1616-67 Various Miami Beach C
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.
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_.._.. DANIEL GAIZCWAFp
TOURISM t
m14 $I13iNf t
v
N.Y. h.
seeks to take over resortCh
hotelier
III William S.Achenbaum,the tried to sell the �•��-••-�--•-. wit
owner of a boutique financing to pay off the mortgage. taint
Manhattan hotel,said he is loan last month
"It would never go to a foreclo-
eager to acquire R.Donahue Achenbaum, the
Peebles'to uPalm Crown owner a a bone • sure.eThe property is fHunton&
Williamsd,a said Hoffman, •iUR�
oceanfront tique Manhattan • n,of &
Plazaon Resort oceanfront
uth Beach. hotel who said .k Wl Palm Miami. r said thea
M Royal has never missed a
BY DOUGLAS HANKS III he is eager to monthly payment on the interest-
[(level
locatidhanks�6:herald.com take over the only loan. �evel
l Royal Palm's PEEBLES If successful,Beach'si fou sum's bid
A New York hotelier has oceanfront location in South hotefor l remove Peebles-largest
signed a contract to buy the $54 I`
million mortgage the Royal Achenbaum's Beach from r
Palm CrowneoPlaza onsohe Ro ale chase of the Royal Palm attempted
ort ur- prominencetro ct that propelled him t vANBUN
•
said hopes ea a etos rt,foreclose icase f th up in cand gee-age higearsagoin South emain eight
on the Miami gage years ago and that remains the I JACKSON ST.
Beach hotel or force bles lawyer Stuart Hoffman said esttate holdings,-profile centerpiece of his real
a sale of the business. his client is confident Union
The mortgage came due Satur- Planters will continue extendingbuild arm Beach picked Peebles to MADISON sr.
day, and the hotel's owner, R. the hotel on city-owned land
day, and Phebles, is negotiating the loan.Should Achenbaum suc- on a minority set-aside contract, ADAMS Si.
sec with Union Planters Bank to said the 417-room Royal Palm is brated as the
ceed in buying the note,Hoffman and the Royal Palm deal was cele
n, extend the loan, his lawyer said worth enough that Peebles would
us a Thursday. Union Planters had country's first major
:er.
have little trouble obtaining •TURN TO ROYAL PALM,4C
sec-
SOURCE Corr
's
st
•
tive VENEZUELA,2C
.m $36 PLASTICS PLANT TO BE BUILT JAPAN,
PAN,3C
ease BANKING GIANTS AGREE TO MERGE RETAIL,3C
Exxon Mobil Corp.and state-owned MART BAG
il company to build plastithecs eTwo of Japan's largest banks agree
to form the world's biggestI New employees u
bank. undergo backgrour
•
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