San Jose hotel development site is seized in real estate foreclosure
https://www.siliconvalley.com/2023/09/26/san-jose-hotel-real-estate-develop-build-economy-covid-loan-foreclose/
SAN JOSE — Lenders have seized through a real estate foreclosure a San Jose site where a hotel was proposed but never built, an unsettling sign that coronavirus-spawned economic ailments still afflict the Bay Area lodging sector.
The real estate group that lost ownership of the site in the foreclosure proceeding had proposed the development of a 132-room hotel but never managed to launch the construction.
San Jose hotel development site is seized in real estate foreclosure
Sep 26, 2023, 7:43pm UTC
https://www.siliconvalley.com/2023/09/26/san-jose-hotel-real-estate-develop-build-economy-covid-loan-foreclose/
> SAN JOSE — Lenders have seized through a real estate foreclosure a San Jose site where a hotel was proposed but never built, an unsettling sign that coronavirus-spawned economic ailments still afflict the Bay Area lodging sector.
> The real estate group that lost ownership of the site in the foreclosure proceeding had proposed the development of a 132-room hotel but never managed to launch the construction.