Pursuits
Related Group Florida Loses Trump Condo to Foreclosure
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Lenders foreclosed on Trump Hollywood, a 200-unit luxury condominium project in Hollywood, Florida, ending an almost two-year debt restructuring by developer Jorge Perez’s Related Group of Florida.
The $225 million mortgage on the 41-story oceanfront tower, completed in 2009, was part of $2 billion in troubled loans at closely held Related Group as of early last year, Matt Allen, chief operating officer of the Miami-based company, said yesterday in a telephone interview. Juanita Gutierrez, a spokeswoman in New York for HSBC Holdings Plc, which led the lending group that held the note, declined to comment.