The Real Deal Miami

More suits between Lehman, WSG

April 01, 2010 10:35PM

Lehman Brothers Holdings has filed two more foreclosure lawsuits
against Miami Beach-based WSG Development, focusing on two unfinished
projects, ArtsPark Village in Hollywood, and a commercial property in
West Palm Beach. The suits follow two prior actions, one for the Prism
condo in West Palm Beach, and for the Canyon Ranch condo hotel on
Collins Avenue in Miami Beach. The ArtsPark mortgage was valued at $20
million three years ago, while the commercial property’s loan is $3.4
million. [SFBJ]