FORT LAUDERDALE, FL-Fifth Third Bank has sold a hotel inLauderdale-by-the-Sea at an $8.5-million loss. In 2009, the banktook control over the Villa Caprice Hotel after foreclosing on a$13.74-million mortgage held by Villas of Caprice Developers.
On May 18, Walnut & Vine Properties II, an affiliate ofFifth Third Bank, sold the Villa Caprice Hotel to Lion Caprice, asubsidiary of Miami Beach-based Lion Financial, for $5.2 million.The hotel, situated at 4110 El Mar Drive, contains 24apartment-style rooms. For the full story, go to South Florida Business Journal .
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