COVID real estate: Upscale Silicon Valley hotel topples into loan default

COVID real estate: Upscale Silicon Valley hotel topples into loan default

3 years ago
Anonymous $K6XgmDN5_o

https://www.siliconvalley.com/2021/02/03/covid-real-estate-upscale-silicon-valley-hotel-mortgage-default-tech/

MENLO PARK — An upscale hotel next to downtown Menlo Park has toppled into default on its mortgage, fresh evidence of the challenges facing the embattled lodging sector in the Bay Area.

Park James, a small boutique hotel in Menlo Park, has been threatened with seizure by its lender because the loan payments for the property are delinquent, according to documents filed in San Mateo County.