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Huge Condo Deposits – Are They Safe?

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Episode 228: 08-29-13

Huge Condo Deposits – Are They Safe?

Andrew C. Hall, Managing Partner at Hall, Lamb and Hall, P.A., has tried cases arising from some of the nation’s most significant historical events. From the Watergate trials and the Ohio savings and loan crisis to the 2000 terrorist attack on the USS Cole and the Marriott bombing in Islamabad, Mr. Hall’s trial skills are recognized as among the top echelon of litigators in the nation.

Mr. Hall’s casework has involved complex commercial litigation, professional negligence, securities litigation and arbitration, family law, personal injury and wrongful death. His tenacity in the courtroom is in large part a product of his past. Born in Warsaw, Poland, in 1944 while his Jewish parents hid from Nazi occupiers, Mr. Hall is tireless in his pursuit for justice and a desire to stand up against oppression and abuse of power. Within the legal profession, Mr. Hall is involved in The Florida Bar, the American Judicature Society, the Florida Justice Association, and the American Association for Justice.

He has a strong opinion on the merits and shortfalls of the current condo deposit method for financing the development of new projects. We will discuss his insights and the potential impacts on the condo business in Miami.

Inigo Ardid specializes in development for Key International. He oversees the day-to-day operations of development projects as well as the acquisition of new properties. He is a seasoned real estate developer who has been involved in over $1 billion worth of real estate transactions. His projects include buying and developing rental and for sale residential properties, purchasing distressed asset notes, and acquiring hotels, office buildings, and retail properties.

Inigo has developed over 1,200 residential units including landmark buildings Mint, The Ivy, and Eden House. Currently under construction is the impressive 400 Sunny Isles, which is slated for completion summer 2015.

Inigo was also the master developer of Riverfront Community, a 13.5-acre gated community in Downtown Miami that will be home to more than 2,000 residential units. We will discuss the evolution of the large deposit model.

Episode 228: 08-29-13  (To download, right-click and select “Save Link As”.)

Featured photo courtesy of 401(K) 2012 on flickr.

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