A bankruptcy judge has approved the $39.1 million sale of an incomplete Fort Lauderdale hotel where Chinese investors claim they were victims of fraud under the federal EB-5 visa program.
MHF Properties VI LLC, an affiliate of Warwick, Rhode Island-based Magna Hospitality Group, submitted an initial stalking horse bid of $38.6 million and increased the value to the eventual purchase price in a would-be auction that attracted no other bids Aug. 15.
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