276-Room Dual-Brand Marriott Hotel in Downtown Oakland Returned to Lender via Deed in Lieu of Foreclosure - The Registry

276-Room Dual-Brand Marriott Hotel in Downtown Oakland Returned to Lender via Deed in Lieu of Foreclosure - The Registry

By The Registry Staff Another significant hotel property in the Bay Area has been returned to its lender. The dual-brand Marriott hotel in downtown Oakland is one of the latest casualties of a struggling hospitality market. A report from The Mercury News shows that Cook Children’s Health Care Services has taken ownership of the 276-room […] The post 276-Room Dual-Brand Marriott Hotel in Downtown Oakland Returned to Lender via Deed in Lieu of For…

Downtown Oakland hotel taken back by lender due to delinquent loan

OAKLAND — A dual-branded Marriott hotel in downtown Oakland was seized by the property’s lender because of a delinquent loan, fresh evidence of the feeble state of hotels in the Bay Area. Cook Children’s Health Care Services is now the owner of the 276-room hotel located at 1431 Jefferson St. following a deed in lieu of foreclosure, which is a streamlined version of the conventional process for a lender to seize a property with a delinquent loan…