The Real Deal Miami

Morgans turns over SoBe project

January 19, 2011 01:46AM

Morgans Hotel Group has turned over the shuttered hotel project at 1960
Collins Avenue and 1685 James Avenue to an affiliate of Crescent Heights
of America in a deed in lieu of foreclosure. The company, which is
based in New York, owns the Delano, along with an ownership interest in
the Mondrian and a minority share in the Shore Club. The company said it
transferred the lots to SU Gale Properties, which is managed by
Crescent Heights principal Russell Galbut. [SFBJ]