The 298-unit beachfront project, which has yet to open, has also been the target of lawsuits filed by disgruntled buyers seeking refunds. One of those suits alleges they were misled about Trump's involvement: Although the New York City real estate magnate licensed his name to the hotel, he is not among the developers.
Corus Construction Venture filed the foreclosure action March 11 against developer SB Hotel Associates, according to Broward County Circuit Court records. It concerns a mortgage issued for $139 million in 2006 by Corus Bank, which failed last year.
To read the full story from the South Florida Business Journal, click here.
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