Blue Tide Partners lost a $39.9 million foreclosure judgment in Hamilton County Common Pleas Court in September, and has been in default since Jan. 2019. The Carrousel is one of 25 properties caught up in the foreclosure.
Prodigy Properties, which replaced Blue Tide Partners as managers of the foreclosure hotels, drafted a July 26 report to Hamilton County Common Pleas Judge Robert Ruehlman pointing out future issues that would plague Blue Tide Partners properties.
The Carrousel was in “absolutely atrocious condition,” said Prodigy’s report. “There is fire damage, water damage, vandalism, evidence of squatters and a myriad of code violations … it appears the defendant received a fire damage insurance payment of approximately $100,000, but did not repair the building.”