💰 Financial Record

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Transaction Details

Amount

USD $32,500,000.0

Payer (From)

Potential Bidders Linked to Potential Bidders

Payee (To)

Palm House Hotel Receiver Linked to Palm House Hotel Receiver

Description

Starting bid price for the auction

Additional Details

Date string: N/A

Amount string: 32500000

Source document: HOUSE_OVERSIGHT_027064.jpg

📄 Source Document

HOUSE_OVERSIGHT_027064.jpg

ESTATE Collection

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Document Summary

This document is a news clipping regarding the bankruptcy auction of the Palm House Hotel in Palm Beach. It details that RREF II PALM HOUSE LLC, an affiliate of Related Companies (led by Justin Metz), placed a 'stalking horse' bid of $32 million. The text outlines the financial history of the stalled project, including $115 million in creditor claims and fraud allegations against the former developer, with an auction scheduled for November 16, 2018.

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