Aventura-based Cabi Developers has agreed to give Everglades on the Bay to its construction lender on the condition it will continue managing the largely unsold condo project.
Cabi affiliate Cabi Downtown reached an agreement Thursday with Bank of America to settle a dispute over a delinquent $209 million loan. The agreement must be approved in U.S. Bankruptcy Court in Miami, where Cabi filed for protection from creditors in August.
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