search

The Real Deal Logo

Trending

How low? LNR buys San Francisco office building for 11% of 2018 priceHow low? LNR buys San Francisco office building for 11% of 2018 priceGlossier founder is buyer of $22M Brooklyn townhouseGlossier founder is buyer of $22M Brooklyn townhouseLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aDevelopers have a new tax break. Now they must figure it outDevelopers have a new tax break. Now they must figure it out
South Florida

Straub buys Palm House hotel debt

Sign Up for the undefined Newsletter

An investment group headed by Glenn Straub, owner of the old Miami Arena and the Palm Beach Polo Golf and Country Club, has purchased the outstanding mortgage debt on The Palm House hotel in Palm Beach, which had faced a $22 million foreclosure. Aztec Group, a Miami-based real estate investment and banking firm, represented the seller, 111 Debt Acquisition Holdings. Terms of the deal were not disclosed. Boaz Ashbel, managing director of the Aztec Group, said it would cost between $10 million to $15 million and take about a year to complete the hotel. [GlobeSt]

Tags
Glenn StraubReal Estate CompaniesReal Estate Groups