REAL ESTATE

Times Staff and Wire Reports

Hotel Developer Wins $47-Million Judgment: SMBH, which developed the Shutters on the Beach hotel in Santa Monica, won the arbitration award against Phoenix-based Gosnell Builders Corp. SMBH had charged that Gosnell deliberately underbid the project and mismanaged construction, resulting in major building defects. Gosnell executives were not available for comment. Construction problems and delays forced SMBH into bankruptcy. The hotel was resold and later rebuilt by another owner, according to Colton Mann Partnership, the legal firm representing SMBH during the nearly five-year case.

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