CK principals allegedly took out loan without partners’ consent: lawsuit

Foreign investors accuse Alberto, Jacobo and Shlomo Kamhazi of refusing to acknowledge their ownership stake and obtaining unauthorized $2.1M loan

Nov.November 21, 2018 01:30 PM

Biscayne Office Village at 15801 Biscayne Boulevard

UPDATED Nov. 24, 2:35 p.m.: A brewing legal war among a group of real estate development partners could have negative consequences for a slate of new commercial projects in Aventura and North Miami Beach, including the redevelopment of Dean’s Gold strip club.

RH 18 Development and Carf 18 last month sued Alberto, Jacobo and Shlomo Kamhazi, as well as their company Biscayne 18 Development LLC, which owns a complex of three commercial buildings at 15801 Biscayne Boulevard.

According to the lawsuit, Alberto Kamhazi, a principal of CK Holding Group, is refusing to hand over “company books and records” that would verify RH 18’s and Carf 18’s minority ownership stake in Biscayne Office Village, as the complex is known. The two entities also claim Kamhazi failed to notify his partners that he took out a $2.1 million loan against the property.

Matthew Jones, a lawyer representing RH 18 and Carf 18, declined comment.

The Kamhazis vehemently denied wrongdoing through their attorney, Roland Potts.
“The allegations that they referenced are patently false,” Potts said. “We have provided them with several hundred pages of documents and no loans have been taken against the property improperly.”
He said the complaint is replete with erroneous statements. “This is an attack on my clients,” Potts said. “These actions are hurting the Kamhazis reputation and we will forcefully defend against these claims.”
Potts also noted that Biscayne 18 Development is a separate entity not affiliated with CK Privé Group.
Florida corporate records show that Carf 18 is managed by Rafael Franco Montes and Rodrigo Franco Martinez, and the lawsuit states Alberto Kamhazi managed RH 18 for the two investors. Franco Montes and Franco Martinez have known Kamhazi for several years, building a relationship of trust and confidence, according to the complaint.

“Over the years, Alberto Kamhazi represented himself as a savvy and professional businessman and broker in real estate investments in Florida who could therefore secure profits and excellent returns on real estate investments,” the lawsuit states.

Since they reside in Peru, Franco Montes and Franco Martinez claim they relied on Kamhazi to manage and control the real estate investments they have together. For instance, Carf 18 provided Kamhazi with $3 million for a 20 percent ownership stake in Biscayne Office Village. But when Carf 18 requested to see Biscayne 18 Development’s books to verify its ownership stake, Kamhazi refused, the lawsuit alleges.

Furthermore, Kamhazi obtained a $2.1 million cash out loan from City National Bank in early October that could encumber Carf 18’s real estate investment because the funds can be used for other projects under development by CK Holding Group,  the complaint states.

CK Privé Group is involved in several significant projects on Biscayne Boulevard. The company is partnering with Privé Land Banking LLC and CK Holding Group to redevelop the site of Dean’s Gold into a massive mixed-use project that includes 245 luxury rental apartments, 170,000 square feet of retail, 40,000 square feet of office space and 1,200 parking spaces. The partnership bought the strip club property and two adjoining parcels for a combined $48.8 million in 2015.

Privé Land Banking and CK Holding Group are also building Forum Aventura, a proposed 12-story building at 19790 West Dixie Highway. Designed by Arquitectonica, Forum Aventura will total about 95,000 square feet, including a 5,000-square-foot lobby with 30-foot high ceilings and two retail condos on the ground floor.

A previous version of this story did not include the Kamhazis’ attorney’s comments.

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