Dual-branded hotel project to break ground

Wurzak Hotel Group and DoveHill will soon break ground on a dual-branded hotel north of downtown Fort Lauderdale. Bank of the Ozarks (NYSE: OZRK) awarded a $56.1 million, four-year construction loan to the developers for the 23-story project at 299 N. Federal Highway. The loan was brokered by Meridian Capital Group’s Ronnie Levine and Aggelos…

Equity One president to step down

Equity One President Thomas Caputo will step down on Dec. 31 when his employment agreement expires. The North Miami Beach- and New York-based retail real estate investment trust (NYSE: EQY) announced that it entered into an agreement with Caputo to provide consulting services to the company for $30,000 per month during 2017. He can’t accept…

Repossessed office park sold at 37% discount

The repossessed Mizner Place office park in West Palm Beach was sold at a 37 percent discount to its foreclosed mortgage. U.S. Bank, representing a commercial mortgage-backed securities (CMBS) trust, seized the four one-story office buildings at 5601 Corporate Way in 2015 after foreclosing on Foundation IV LLC’s $4.98 million mortgage. CMBS analysis firm Trepp…