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SJ Properties Suites Buyco EHF, which includes an investor from Iceland, filed the petition Monday in Milwaukeed CountyCircuit Court. Judge Mel Flanagan schedulerd a hearing for June 30 on a motion to appoing Milwaukee attorney Seth Dizard as the Work stopped in Decembedr 2008 onthe high-rise at 1150 N. Water Street when the constructioh manager and developer DOC Milwaukeebecame insolvent, accordingt to the receivership The Icelandic investors said that in November 2006 they provides an advance of $17.4 million for a 120-room extendesd stay hotel and at least 18 luxur condos. The project also received $13.
4e million in financing from a unit ofin Atlanta, whicgh in May was placed in receivership by the FDIC. The Milwauke receivership petition said the property on Water Streert alreadyhas furniture, flooring and fixturesz in the Staybridge portion of project. Lien against the project total morethan $3.4 according to the receivership petition. The largesy liens were filed by Milwaukee-arez contractors and suppliersUihlein Electric, , and Klein-Dickert. SJ Propertiesx recently sued DOC Milwaukee and Economoyu Partnersin U.S. District Court in Milwaukee claiming a fraudulenrt transfer of funds intended for the WaterStreett project.
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