Michael Shvo bought $3 billion of real estate with German cash in the past six years. Now one of the projects is in default.
Bulk sale features 44 luxury units at the Mandarin Oriental Residences Beverly Hills at 9200 Wilshire Boulevard.
Shvo secured financing from Northwind Group for 50 unsold luxury  Mandarin Oriental condos at 685 Fifth Avenue.
The sum covers 50 unsold units at 685 Fifth Ave., a luxury property first developed by Shvo and Deutsche Finance America.
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