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Nearly two years after a court appointed a receiver to take control of the Courtyard by Marriott in Oxnard after it was foreclosed upon, the hotel has been sold for $11.4 million. HREC Investment Advisors, a hospitality real estate advisory firm based in Denver and Los Angeles, arranged the sale of the 166-room hotel. The Read More →
Two Marriott hotels in Thousand Oaks that faced foreclosure on a $25 million construction loan have negotiated to extend the terms of the loan and the action has been dismissed, the head of the San Luis Obispo-based firm that owns the properties said.
A Westlake Village attorney is asking a judge to rip up a homeowner’s mortgage and strike down the legal framework the lending industry uses to foreclose on notes that have been sliced, diced and sold so many times that it’s impossible for borrowers to tell who owns them.
The Residence Inn by Marriott and the Courtyard by Marriott in Oxnard are both being foreclosed upon and face lawsuits asking for court appointment of a receiver to step in and take control of the properties