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Hard times for Merco Group – South Florida’s real estate boom ends in a tangle of litigation and financial demands for a family-owned development enterprise. – the Meruelo family

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Posted on: June 17th, 2008
Filed Under: Blogante Business, Business, Essentials, People, Real Estate, Top Stories
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“Starting with one earthquake-damaged building in downtown Los Angeles, the Meruelo spent nearly four decades building a real estate empire stretching from California to Florida.

But even as -owned properties like the Grand Bay hotel in Coconut Grove and high-rise condominiums attest to the ’s success, the Meruelo-owned companies now face mounting financial problems and a stack of lawsuits.

The collapse of the housing boom has caught up with many South Florida developers as land and commercial property values have tumbled and financing has dried up. The travails of the Merco Group and its affiliates — the Florida real estate holdings built up by and Homero Meruelo and their eldest son Homero Jr. — are emblematic of the drama engulfing Florida’s real estate market.”*

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