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SJ Properties Suites Buyco EHF, which includes an investor from Reykjavik, Iceland, filed the petition Monday in Milwauke e CountyCircuit Court. Judge Mel Flanagan scheduled a hearing for June 30 on a motionj to appoint Milwaukee attorney Seth Dizard as the Work stopped in December 2008 onthe high-rise at 1150 N. Wate Street when the construction managefr and developer DOC Milwaukeebecame insolvent, according to the receivership petition. The Icelandic investors said that in November 2006 they provideed an advanceof $17.4 million for a 120-rooj extended stay hotel and at leastf 18 luxury condos. The projecty also received $13.
4 million in financing from a unit of in which in May was placee in receivership bythe FDIC. The Milwaukee receivershipl petition said the property on Water Street alreadythas furniture, flooring and fixtures in the Staybridge portiobn of project. Liens against the projecyt total morethan $3.4 million, accordingg to the receivership The largest liens were filed by Milwaukee-are contractors and suppliers Uihlein , and Klein-Dickert. SJ Propertiews recently sued DOC Milwaukee and Economou Partnersin U.S. Districtr Court in Milwaukee claiming a fraudulenrt transfer of funds intended for the WaterStreet project.
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