Saturday, August 23, 2014

Canyon Ranch in Miami Beach draws $22M winning bid in bankruptcy auction

Per the South Florida Business Journal:

Aug 22, 2014, 1:05pm EDT

A Chicago-based private equity firm submitted the winning bid for part of the Canyon Ranch Hotel & Spa in Miami Beach in a bankruptcy auction.
Z Capital Partners won the Aug. 19 auction with a bid of $21.6 million, which was well above the stalking horse bid of $12 million by Montreal-based 360 Vox LLC. It would also be enough to repay the estimated $17.3 million in liabilities in the debtors’ case.
The results of the auction will be up for approval on Sept. 12 before Bankruptcy Judge Shelley C. Chapman in New York.
For more, see:

No comments:

Post a Comment