Hidrock Properties isn’t done fighting for its Midtown hotel project, which its mezzanine lender was approved to foreclose on in May. In a new lawsuit filed Monday, the developer alleges that real estate investment firm 54 Madison Partners’ foreclosure auction, which took place in June, was a “sham.” Hidrock is seeking a judgment to undo the sale and at least $40 million in damages. “In this supposedly ‘public’ auction there were no third-party bidders because
source https://therealdeal.com/2020/07/08/not-over-yet-hidrock-sues-over-auction-of-midtown-hotel-project/
No comments:
Post a Comment