The Real Deal Miami

PB investor Robert Matthews in another foreclosure

March 25, 2010 09:46AM

Robert Matthews, who owns several companies that invest in Palm Beach
real estate, is in danger of losing a third property in the town. Fifth
Third Bank has filed a foreclosure action against NHM Realty, one of
Matthews’ companies, for a $14.4 million note on a nearly
24,000-square-foot property on Royal Palm Way. Matthews lost two other
properties in the last year — another office site and the Palm House hotel,
the former Heart of Palm hotel, which was never completed. Matthews
also lost the Point Breeze hotel in Nantucket in 2009, where he
had sought to sell renovated condos. [SFBJ]