Today is a big day for Port Townsend: a million dollar property is available for only $300,000. The auction is an attempt to avoid foreclosure, in other words, a short sale to satisfy for the owner and the lender. “In the Northwest, I’m not sure I’ve seen a deal structured like this,” said Paul Thomas [...]
John Q. Hammons Hotels & Resorts said it is abandoning completion of the 300-room Renaissance Hotel in Colorado Springs due to economic malaise. This is happening for the first time in its 50 years of history that hotel developer John Q. Hammons – or one of his companies – walks away from a hotel on [...]
Mountain Village’s luxury Capella Telluride/Hotel Madeline property went back to its lender, Swedbank, who acquired it in a foreclosure auction. The auction was held on July 14 at the San Miguel County Treasurer’s Office, with the starting bid of roughly $126.8 million. According to the treasurer’s office, the total debt on the property was roughly [...]
A holding company is foreclosing on Seminole Mall’s mortgage, a small city’s only mall. However, Seminole City Manager Frank Edmunds believes the foreclosure might speed up redevelopment of the struggling mall by bringing the value more into line with current prices. “It’s unlikely the city would buy the property,” he said, “because reviving the mall [...]
A Ridgewood condominium project is going to hit the auction block in August. The former knitting mill building at 71-13 60th Lane was planned to host 50 condominiums, but the development stalled with the recession. The project, last owned by Ridgewood Equities, is more than $13.2 million in the red and is slated for auction [...]
An 84-acre town of LeRay property, that supposed to host a 500-unit apartment complex is scheduled for foreclosure auction Wednesday. The property at Route 11 and Waddingham Road is owned by Castles of New York LLC, which acquired the property in 2005 from Douglas Weisenberg, Orlando, Fla., who had provided the company with a $765,000 [...]
Although it was a beautiful dream of the developer, the Best Western hotel at 5127 Mudd Tavern Road in Spotsylvania County never made the finish and now is scheduled for foreclosure auction. According to the notice that was published this week in The Washington Post, the property is scheduled for the July 25 auction that [...]
The Sonoma-Marin Area Rail Transit district wants to participate at a foreclosure auction, as it is interested in purchasing a former Petaluma lumber yard. SMART’s board of directors has directed its staff to enter a bid when the auction is held July 21 at the Petaluma Community Center. “We have a piece of foreclosed property [...]
The unfinished luxury downtown fractional-ownership project wasn’t interesting for any of the investors in the area, so it went back to its lender in a foreclosure auction. The sale took place on the front steps of the Pitkin County Courthouse, and attracted around 30 curious outlookers, but none of them bid on the real estate. [...]
Tampa’s downtown iconic “Beer Can” building was sold recently for $22 million in a foreclosure sale after fetching $35 million during the real estate boom six years ago. The new owner of the 31-story building is Palm Beach County-based In-Rel Properties. The cylindrical real estate was the property of America’s Capital Partners of Miami, but [...]
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