Filing Alert: Mandarin Oriental Boca Raton Hotel Owner Files Chapter 11
Mandarin Oriental Boca Raton Hotel Owner Files Chapter 11 in Southern District of Florida
Via Mizner Owner II, LLC and its debtor affiliate⁽¹⁾, a Boca Raton, FL-based real estate owner and developer of the planned Mandarin Oriental Boca Raton hotel, filed for Chapter 11 protection on Dec. 23 in the U.S. Bankruptcy Court for the Southern District of Florida.
The filing was precipitated by the debtors' inability to repay secured lenders TIG Romspen US Master Mortgage LP (owed approximately $130.2 million) and Via Mizner Funding, L.P. (owed approximately $80 million) upon maturity. The debtors state they intend to use the Chapter 11 process to engage in a consensual restructuring with the support of their secured lenders to reorganize their businesses and protect the property's value, which they estimate at over $450 million upon completion.
Via Mizner Owner II, LLC reports $100 million to $500 million in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-25197.
⁽¹⁾ Via Mizner Pledgor II, LLC.
Top Unsecured Claims
Key Parties
Counsel:
- Bradley S. Shraiberg
Shraiberg Page PA
Email: bss@slp.law
Signatories:
- Mark Gensheimer – Manager
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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