>Seville Hotel On South Beach in $58M short sale

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>The shuttered Seville Hotel South Beach was sold to an affiliate of Courtyard by Marriott for $57.5 million. That’s $9.5 million less than the foreclosure claim filed over it.

The short sale, allowed by First Bank Puerto Rico (NYSE: FBP) on June 30, was quickly followed by the dismissal of the $67 million foreclosure lawsuit, which was filed in September and named Fortune International President Edgardo Defortuna and Lionstone Group managing member Alfredo Lowenstein.

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