Penn-Florida, the developer behind the long-delayed Mandarin Oriental Residences, Boca Raton is at risk of losing the project after lenders filed a $417.7 million foreclosure lawsuit. The lending group, which is affiliated with Apollo Global Management, sued an affiliate of the developer last week for allegedly missing interest payments that began in June 2024, failing to repay the loan when it matured in September, missing the project’s February 2025 completion deadline, and allowing the hotel’s management agreement to be terminated, the South Florida Business Journal reported. The lender is Via Mizner Lender 1 LLC, which represents a group that includes […] This article originally appeared on The Real Deal. Click here to read the full story.