The Real Deal Miami

Fontainebleau faces possible default claim

September 08, 2009 11:41AM

A report in Friday’s Wall Street Journal said the Fontainebleau Miami Beach could face a declaration of default by its lenders after an extension for payments expired at the end of August. Lenders have about $60 million in unpaid contractor claims, the paper reported. The hotel has about $670 million in construction debt. This compounds troubles in the Soffer family, the principal owners, as Jeffrey Soffer fights bankruptcy with the Fontainebleau Las Vegas.