Cash flow problems have prompted the parent of Tradition developer Core Communities to attempt to renegotiate financing with its lender as the value of its land plunges. Fort Lauderdale-based Woodbridge Holdings Corp. said in its most recent quarterly report to the U.S. Securities and Exchange Commission that there are doubts Core can continue as a going concern. Core President Tom Babcock said the company has $15 million in cash on hand and expects the payments can be renegotiated.
|Brock Development scores loan, breaks ground on Palm Beach Gardens hotel|
|The Weekly Dish: Bocce Bar’s space to become Skorpios restaurant & more|
|South Florida construction starts spike in January: report|
|Can a startup Miami brokerage make the flat-fee model work?|
|General Growth Properties raises its ownership stake in Miami Design District|