A Maryland-based developer’s $22.5 million bid won the bankruptcy auction for the old Howard Johnson hotel along the beach in Fort Lauderdale.Transacta Private Developers filed Chapter 11 bankruptcy in August after its plans to build a 20-story condo tower at 700 N. Fort Lauderdale Beach Blvd./State Road A1A were stalled. The developer, led by Sylvia Coltrane, reported owing $15.2 million to Miami Lakes-based BankUnited (NYSE: BKU) and $7.7 million to Terra Investments, among other creditors.On…Read More... [Source: Residential Real Estate News - Residential Real Estate News Headlines | Bizjournals.com]
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