Construction has started at the future site of the Mercedes-Benz-branded residences in Miami, but behind the scenes, a lawsuit is playing out and putting the project in jeopardy.
Michael Stern, the developer behind Mercedes-Benz Places in Brickell, needs to find financing for the planned towers.
Days after acquiring a defaulted bridge loan, a Cottonwood Group affiliate filed for foreclosure on the Brickell property. The firm had reportedly held the loan for about a month before the filing, according to Bisnow…