BakerHostetler Advises Client Westgate South Beach Owners Association Inc. on $73M Sale of Landmark Mid-Beach Timeshare Property
News and Press Releases
ORLANDO — July 3, 2023 — BakerHostetler is pleased to announce that it advised Westgate South Beach Owners Association Inc. in the evaluation and termination of the timeshare plan for a historic 46-unit timeshare resort located at 3611 Collins Ave. in Miami Beach’s Mid-Beach neighborhood, as well as in the sale of the underlying property for $73 million to MDEV6 LLC, an affiliate of Miami-based multifamily developer 13th Floor Investments. BakerHostetler was brought in to represent the association by Greenspoon Marder LLP, which serves as counsel for the project developer, Westgate South Beach LLC, a subsidiary of Westgate Resorts, and the project management company.
Originally constructed in 1938, the three-story building, during a sales office renovation project in late 2021, was discovered to have serious latent structural and safety issues. A subsequent investigation and independent structural evaluation performed under the purview of the association’s board of directors and the management company culminated in a determination by a supermajority of the owners that the property was obsolete, which led them to terminate the timeshare plan and enable the sale of the property by the association for the benefit of the owners.
BakerHostetler’s team was led by partner Robert Webb and included partners Jason Brady and Kurt Gruber, and associate Macy Munz. The developer and the management company were represented by co-managing director Michael Marder and Greenspoon Marder partners Leonard Lubart and Kate Saft.
“We are grateful to Greenspoon Marder for introducing us to this opportunity to represent a legacy timeshare resort owners association in the evaluation of its property improvements, the termination of its timeshare plan and the successful disposition of the underlying property,” said Webb. “Throughout my 43 years of practice in the international timeshare industry, the issue of protecting timeshare owners’ rights has always been very important, and Westgate took every reasonable step to protect the association’s members’ rights in this transaction.”
Webb, Gruber and Brady are active in the American Resort Development Association, the U.S. timeshare trade association, where Webb serves as director, secretary and association general counsel.
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