THE COVE AT BISCAYNE PLAZA

Case Highlights

• Responsible for oversight of property during litigation
• Negotiate engagement of property management firm through sale of property

Case Narrative

DSI was appointed as Receiver of a commercial shopping center during a dispute amongst the owners of an open air shopping center in the Aventura area of south Florida.

As the Receiver, DSI acted to mediate the dispute between the parties and their respective counsel resulting in the engagement of a property management firm to handle the day-to-day management of the commercial property, including any and all maintenance, which was a potential redevelopment site in a commercially desirable location in Miami-Dade County, Florida.  One of the parties moved for a partition sale which would have divided the property and reduced its value.

As a result of the Receiver’s actions and negotiations, the parties consented to the private sale of the property as opposed to the partition sale resulting in a higher and better sale price for the property.