Sixty Sixty Resort owner seeks Chapter 11 protection as Miami Beach foreclosure sale looms

Bankruptcy filing pauses a scheduled sale of the Indian Creek Drive condo-hotel

The owner of the Sixty Sixty Resort, a condo-hotel property at 6060 Indian Creek Drive in Miami Beach, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Florida on Feb. 16, 2026. The filing was made by Bloom Hotels 6060, LLC, a Florida entity tied to the ownership of the building’s units.

The bankruptcy petition triggered an automatic stay that typically halts creditor collection efforts and can pause foreclosure actions while the debtor pursues a court-supervised restructuring. In this case, the filing came as the property faced a pending foreclosure sale tied to a multimillion-dollar lender judgment.

Foreclosure dispute centers on a loan default and lender judgment

Court and case-reporting records surrounding the matter indicate the resort’s ownership group has been in litigation with De Paz Family Investment over an alleged loan default. The dispute traces back to a loan obtained in 2023 and subsequent allegations of missed payments and related fees and interest. Litigation over the financing progressed through 2025 and culminated in a foreclosure judgment in the tens of millions of dollars.

The Chapter 11 filing lists estimated assets and liabilities each in the range of $10 million to $50 million. A meeting of creditors is scheduled for March 17, 2026, and claims deadlines have been set for spring and summer 2026 as the case proceeds.

What the Chapter 11 process can change—and what it cannot

Chapter 11 allows a debtor to continue operating while it attempts to reorganize its finances, negotiate with creditors, and propose a plan that may include refinancing, asset sales, or other measures designed to maximize recoveries. Outcomes vary widely in hospitality and real estate cases: some businesses emerge with new capital structures, while others use Chapter 11 to facilitate an orderly sale or liquidation of assets.

Initial court actions in the case include authorization for the debtor in possession to continue business operations and manage banking arrangements under bankruptcy oversight. Further filings and hearings will determine whether the case moves toward reorganization, a sale process, or another resolution.

Key facts at a glance

• Debtor: Bloom Hotels 6060, LLC
• Property: Sixty Sixty Resort, 6060 Indian Creek Drive, Miami Beach
• Filing date: Feb. 16, 2026
• Chapter: 11 (reorganization)
• Estimated assets and liabilities: $10 million to $50 million each
• Next milestone: creditors’ meeting scheduled for March 17, 2026

Chapter 11 filings commonly impose an automatic stay that can pause foreclosure proceedings while restructuring options are evaluated.

The bankruptcy case will provide a structured forum for the company and its creditors to address the foreclosure judgment and assess whether the Miami Beach resort asset can be stabilized, refinanced, or sold under court supervision.