The 279-room Doubletree Hotel in Palm Beach Gardens was surrendered to its lender in a $31.42 million deed in lieu of foreclosure.
THI IV PBG, an affiliate of Annapolis, Md.-based Thayer Lodging, was hit with a foreclosure lawsuit in May by a commercial mortgage-backed securities (CMBS) trust over a mortgage with $21.76 million in principal outstanding. The last payment was made in 2012, according to CMBS analyst firm Trepp LLC.
The deed in lieu of foreclosure resolved that outstanding debt in… …read more
From:: biz journal foreclosures