Rebuild Miami apartment complex targeted in $4 million foreclosure lawsuit
The company owns a handful of properties throughout the region, with this one being its first under foreclosure.
Safe Harbor Equity Distressed Debt Fund 3 filed an action against Rebuild Miami LLC on February 17, 2017. The complex spans two stories and covers 59,766 square footage. The lawsuit claims that TG Capital Lending provided Rebuild Miami a loan of $4 million in 2019. The complaint states that the loan was due to mature on June 1, 2021 and has not been repaid. TG Capital sold the mortgage in May to Safe Harbor Equity. Rebuild Miami attorney Daniel Kaplan from Miami said that Richard Meruelo is the manager of the company. He wants to refinance his loan but has not been able to. The apartment complex was constructed on the site of 2.8 acres in 2016.