Bankruptcy Watch

The Holiday Inn Port of Miami-Downtown, purchased for $65M in 2015, is headed for a Chapter 11 bankruptcy auction this December with a $175M listing price. Its owners defaulted on a $70M floating-rate loan as rising interest costs strained finances. Despite valuable air rights and redevelopment potential, the project’s timing and structure proved vulnerable, underscoring that resilience, not entitlement, defines real estate success.

KRCM Astoria Portfolio Corp., owner of three multifamily buildings in Astoria, Queens, filed for Chapter 11 bankruptcy on October 8, 2025. The single-asset real estate case reflects tightening refinancing conditions and valuation pressures across New York’s outer-borough markets. At SPE Specialists, we track such filings to assess regional stress and advise on restructuring strategies as smaller operators navigate rising costs and limited credit access.

On October 14, 2025, Weatherstone, LLC, a single-asset real estate entity in Dallas, Georgia, filed for Chapter 11 bankruptcy. SPE Specialists monitors such filings to spot market distress and guide stakeholders on restructuring. Weatherstone’s challenges stem from high leverage, rising rates, and slowing sales. Under SARE rules, the case will move quickly, with upcoming filings revealing creditor exposure and recovery options.

101 Via Mizner Bankruptcy Ends in Fire Sale. Sold for $235M, well below the non-bankruptcy reported value and and Grant Cardone, which will be merging this asset with a $100MM bitcoin fund with a planned condo exit

Six months of legal battles, uncertainty, and value destruction, all avoidable with proper governance structures in place. In volatile markets, independent directors are insurance against exactly this scenario.