Owner of Omni Mall Settles with $221M Foreclosure Judgment

MIAMI-The Genting Group's affiliate has settled with a foreclosure judgment for $221 million with Argent Ventures, which owns the Omni International Mall.

By GlobeSt News Hub | October 12, 2011 at 01:01 AM

MIAMI-The Genting Group's affiliate has settled with a foreclosure judgment for $221 million with Argent Ventures, which owns the Omni International Mall. This would allow the Genting Group to take control over the 1.5-million-square-foot center located at 1501 Biscayne Blvd. in Miami through a foreclosure auction scheduled on October 27 2011. The group plans to develop a casino on the mall site. The property entered into foreclosure in June 2011.

The complex has a 527-room hotel and office and retail spaces. For the full story, go to South Florida Business Journal .

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