The Hyatt House hotel in Los Angeles is headed to a foreclosure auction, according to a notice of trustee’s sale, after the borrower defaulted on millions of dollars of debt. The Mayer Corporation, which developed the five-story, 200-key hotel on the University of Southern California’s health sciences campus, a couple minutes walk from its medical center, landed a $61.5 million refinancing loan from Westbrook Partners four years ago. Entities connected to the Mayer Corporation and Westbrook Partners were in the midst of a civil case over the hotel in late July and early last month. Westbrook Partners requested a receiver […]
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