The new owner of the Vue units was not identified, though the Orlando Business Journal reports the name as Condo Developer LLC, a Delaware corporation formed earlier this month. The 36-story, 375-unit tower was built in 2007 in Downtown Orlando.
The developer Vue Orlando LLC filed for federal bankruptcy protection last November. It owes $53 million through a single mortgage note shared by several banks.
Cushman & Wakefield worked with Fisher Auction Co. to market Vue's available units, for which bidders were required to sign a non-contingency contract of no less than $20 million to participate. A short timeframe of only two months was allowed to complete the sale.
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