Investment Highlights
Marbella
Orlando, FL
In 2004, Canyon Capital Realty Advisors acquired a distressed first lien mortgage loan on a 270-acre parcel in Orlando, FL. This parcel, known as the Marbella property, consists of approximately 145 acres of developable land that is entitled and fully vested for a variety of commercial uses including retail, hotel, timeshare and office space. The parcel also includes Ruby Lake, a 60-acre lake and 66 acres of undevelopable land, wetlands and mitigation acreage.
Canyon acquired the note in conjunction with a pre-negotiated forbearance agreement with the Borrower.
This transaction accommodated the prior lender's willingness to sell the loan at a discount instead of foreclosing on the property. The transaction also provided the borrower with the requisite time to properly market and sell the Marbella property in order to maximize the sale proceeds.
