Citing a need to restructure its finances and an inability to work with its special servicer, the owners of the Sagamore Hotel in Miami Beach have filed for Chapter 11 bankruptcy protection.
October 07, 2011 at 12:00 AM
1 minute read
Despite being in the midst of one of its most profitable years, the ownership of the prominent Sagamore Hotel in Miami Beach has filed for Chapter 11 bankruptcy protection.
Sagamore Partners, which is managed by Bay Harbor Islands-based real estate executive Martin Taplin, filed the petition Thursday in Miami, according to U.S. Bankruptcy Court records. The case has been assigned to Judge A. Jay Cristol.
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