CLEVELAND-The Cleveland Plain Dealer reported that a lender hasacquired the 240-room Hilton Garden Inn Cleveland Downtown hotel indowntown Cleveland at a foreclosure auction. The newspaper reportedthat JPMCC 2006-LDP7 Carnegie Avenue LLC paid $12.4 million for thehotel, which was appraised for about $6.6 million.
The newspaper reported in January 2011, the Hilton Garden InnCleveland Downtown landed in foreclosure after the ownership groupof the hotel defaulted on a $17.8-million mortgage. For the fullstory, go to Columbus Business First .
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