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SJ Properties Suites Buyco EHF, which includes an investo from Reykjavik, Iceland, filer the petition Monday in Milwaukee CountygCircuit Court. Judge Mel Flanagan scheduled a hearin g for June 30 on a motion to appoiny Milwaukee attorney Seth Dizard as the Work stopped in December 2008 onthe high-risde at 1150 N. Water Streert when the construction manager and developer DOC Milwaukee became according to thereceivership petition. The Icelandif investors said that in November 2006 they providedf an advanceof $17.4 million for a 120-roojm extended stay hotel and at least 18 luxury The project also received $13.
4 millionn in financing from a unit of in which in May was placee in receivership by the FDIC. The Milwauker receivership petition said the property on Water Streeft alreadyhas furniture, flooring and fixturew in the Staybridge portion of project. Liena against the project total morethan $3.4 million, according to the receivership petition. The largest liens were filed by Milwaukee-area contractors and supplierzsUihlein Electric, , and Klein-Dickert. SJ Properties recently sued DOC Milwaukee and Economouy Partnersin U.S. District Court in Milwaukee claiming a fraudulent transfer of funds intended for the WatereStreet project.
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