Aloft Miami, a Marriott International hotel brand in Brickell, has filed for Chapter 11 bankruptcy after a long battle with its Delaware-based lender, which sought to foreclose after the hotel missed payments during the COVID-19 pandemic.
Joe Pack, founder of Pack Law in Miami.
According to Aloft Miami’s attorney Joe Pack of Pack Law Firm in Miami, it’s a case that highlights a potential problem in the commercial mortgage-backed securities market: special servicers using trusts as their “piggy bank.”
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