Bisnow

CGI Merchant Hit With Foreclosure Suit Amid Efforts To Sell 55 Miracle Mile

Raoul Thomas is trying to fend off another lender attempting to seize a prized piece of his struggling portfolio. A special servicer has filed a foreclosure lawsuit against affiliates of CGI Merchant ...
The Real Deal

Foreclosure woes worsen for Raoul Thomas’ CGI Merchant Group

His firm recently lost Coconut Grove HQ at auction to Torose Equities, and now another lender is breathing down his neck in Coral Gables CGI Merchant Group’s Raoul Thomas, Torose Equities’ Scott ...
Bisnow

CGI Merchant To Hand Miami Beach Hotel To Lender Seeking $69M Foreclosure

Rather than fight off another foreclosure lawsuit against a property it owns, Raoul Thomas' CGI Merchant Group plans to relinquish an art deco South Beach hotel to its lender. The owner of a $69M ...
The Real Deal

Raoul Thomas’ CGI racks up another foreclosure, could lose Miami Beach hotel

This summary is reviewed by TRD Staff. Raoul Thomas' CGI Merchant Group faces another foreclosure, potentially losing the 140-key Gabriel South Beach hotel in Miami Beach due to a $69 million mortgage ...