The Real Deal Miami

Bankruptcy for Pompano developments

October 27, 2008 01:44PM

A pair of companies started by developer Patrick Baratta have filed for bankruptcy. Tidewater Lodging Group, associated with the property at 1208 Ocean Boulevard, operating as Ocean Point Resort; and at former rental property 1200 Ocean Boulevard, operating as Treviso by the Sea Joint Venture, are in Chapter 11. The Pompano Beach developments have debts of about $60 million. Baratta planned to demolish and redevelop the contiguous properties, but ran into trouble with the original lenders.