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Lender Buys Hilton Garden Inn in Cleveland at Foreclosure Auction

CLEVELAND-The Cleveland Plain Dealer reported that a lender has acquired the 240-room Hilton Garden Inn Cleveland Downtown hotel in downtown Cleveland at a foreclosure auction.

By GlobeSt News Hub | Updated on August 28, 2012

CLEVELAND-The Cleveland Plain Dealer reported that a lender has acquired the 240-room Hilton Garden Inn Cleveland Downtown hotel in downtown Cleveland at a foreclosure auction. The newspaper reported that JPMCC 2006-LDP7 Carnegie Avenue LLC paid $12.4 million for the hotel, which was appraised for about $6.6 million.

The newspaper reported in January 2011, the Hilton Garden Inn Cleveland Downtown landed in foreclosure after the ownership group of the hotel defaulted on a $17.8-million mortgage. For the full story, go to Columbus Business First .

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