Transacta Prive Developers files Chapter 11 - South Florida Business Journal
A Fort Lauderdale developer who has grand plans for the old Howard
Johnson’s beach hotel on A1A Highway filed for Chapter 11 bankruptcy
Wednesday, citing more than $50 million in debt.
Transacta Prive Developers, led by Sylvia Coltrane, paid $20.6 million for the HoJo site during the condo boom heyday.
Transacta assembled financing from BankUnited and multiple investors
for a 20-story project dubbed The Orion. Among the biggest investors
listed for the project are BankUnited, which invested $15.03 million
before it was taken over the FDIC, and Terra Investments of Surfside at
$7.7 million.
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