#hotel-foreclosure

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LA real estate
fromtherealdeal.com
1 week ago

Debt for sale: Lenders want out of Brookfield-owned DTLA office

Distressed downtown Los Angeles office and hotel properties face default, receivership, foreclosure auctions, and debt sales amid high vacancies and falling valuations.
fromThe Oaklandside
3 weeks ago

The state of Oakland hotels: a conversation with the downtown Marriott

Others have simply closed (the Waterfront Hotel, the Hilton airport hotel) or been foreclosed (the Residence Inn/AC Hotel downtown). Perhaps the most high-profile case was the Oakland Marriott City Center, which opened in 1983. Its former owner, Hong Kong-based Gaw Capital, defaulted on its property loan earlier this year. Creditor Invesco seized the property at a foreclosure auction for half the purchase price Gaw spent in 2017. Meanwhile, workers protested last fall over stalled contract negotiations.
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