The Real Deal Miami

Kendall Hotel hit with foreclosure

January 05, 2011 03:21PM

After its plan to emerge from bankruptcy failed, the Kendall Hotel and Suites in Miami has been targeted for foreclosure. According to Miami-Dade County Circuit Court records, Los Angeles-based Florida Associates Capital Enterprises filed a $6.3 million foreclosure lawsuit Dec. 28 against Sundale Ltd. and Kendall Hotel and Suites, a four-story, 158-room building at 9100 N. Kendall Drive. Sundale filed for Chapter 11 reorganization in late 2007 and eventually struck a deal with creditors to emerge from bankruptcy. Miami attorney James Cunningham said that Sundale then defaulted on the terms of its $6.3 million mortgage with his client, Florida Associates Capital. It either wants to get repaid or take over the property, but its mortgage is subordinate to a first mortgage from Miami-based Ocean Bank. Cunningham said Florida Associates Capital has the option of paying off Ocean Bank or refinancing the property. Meanwhile, the hotel is still open. [SFBJ, 1st item]