Penn-Florida Files Bankruptcy to Halt Via Mizner Foreclosure in Boca Raton
The most recognizable name in Boca Raton real estate, Penn-Florida Companies, has filed Chapter 11 bankruptcy on its 101 Via Mizner apartment building to evade a foreclosure auction slated for $145 million on the same day. It was a tactical move made on January 16, 2025. Below is an overview of the situation and what it means to the real estate market in Boca Raton.
Background on Penn-Florida and Via Mizner
Overview of Penn-Florida Companies
From the time of its founding in 1987 until today, Penn-Florida Companies has grown into one of South Florida's largest developers of luxury properties. From 6 million square feet in its portfolio to another 2 million square feet in development, the projects from the firm dot the landscape of the region.…
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