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Note Sells to 52-Room Red Roof Inn

TEMPLE, TX-Two principals of an Englewood, CO-based lender pay $1.55 million for the note, getting a 15% discount off face value to take it off a Dallas/Fort Worth investor's hands.

By Connie Gore | Updated on June 04, 2008

TEMPLE, TX-A discounted note for a first-mortgage lien on a 52-room Red Roof Inn has been sold to two principals of an Englewood, CO-based lender for $1.55 million. The note is due to mature in first quarter 2009.

Scott Henderson with Sperry Van Ness/Visions Commercial in Fort Worth tells GlobeSt.com that the note sale was sealed off market for 85% of the face value of the four-year-old hotel at 915 N. General Bruce Dr. He says a private investor from Dallas/Fort Worth held the original mortgage.

According to Bell County tax records, Shreesoham LLC is the local franchisee and hotel’s operator. The hotel, sitting on 0.6 acres, is assessed at $1.42 million.

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