The bid was on behalf of JPMorgan Chase, which provided a $180 million loan to the Hilton’s owners in 2018. The Hilton Minneapolis, in Minnesota, sold for $225 million to its creditors in a foreclosure auction, The Minneapolis Star Tribune reported.
Louis Circuit Court Judge approved a request by lender HDDA, affiliated with Access Point Financial, to appoint Equis Hotels as a receiver to manage the property. The 201-room Home2 Suites/Tru by Hilton is owned by Blueprint Hospitality and had failed to make payments on a $23 million loan. Saint Louis Bank is asking the court to approve Midas Hospitality as the receiver. The owner and developer of the 88-room Hotel Indigo, Olive Street Saint Louis LLC, failed to make payments and owes more than $10.4 million. Louis, Missouri, the dual-brand Home2 Suites/Tru by Hilton was placed under receivership last week, while the lender behind Hotel Indigo filed for receivership this week, reported the St. Get news on hotel deals, development, stocks, and career moves. If you’re not a subscriber, you should be. Here are some excerpts from Daily Lodging Report from the past week.
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