The Real Deal Miami

Two companies with stakes in One Bal Harbour Resort file for bankruptcy

January 03, 2013 03:45PM

One Bal Harbour Resort & Spa

Two companies with stakes in common areas and units in the luxury Miami condo hotel One Bal Harbour Resort & Spa has filed for Chapter 11 bankruptcy, the South Florida Business Journal reported. On Wednesday, Elcom Hotel & Spa LLC and Elcom Condominium filed bankruptcy petitions in Miami. Ironically, in 2009, Elcom had purchased the building’s common areas and 51 of its units out of bankruptcy. But in 2010, Elcom was sued by a residential association over allegations it was letting the property deteriorate and in 2011, Aventura broker Mark Pordes took control of 42 of those units by buying an interest in the ownership company. [SFBJ]Christopher Cameron