The Real Deal Miami

Matthews hotel project in foreclosure

August 20, 2009 01:29PM

The Palm House hotel in Palm Beach is in foreclosure, according to county court records. The project, being built at 160 Royal Palm Way, has had a troubled history ever since developer Robert Matthews sought to build a 79-room boutique hotel. Matthews and Royal 160 were foreclosed on by 111 Debt Acquisition Holding, a Delaware corporation, for the $19 million unpaid principal balance. It also includes about $2.7 million in unpaid interest, more than $170,000 in attorney’s fees and $239,000 in receiver fees. Matthews’ own financial problems put the project’s funds in the care of a receiver in March.