Subject: Bankruptcy/Foreclosure (BKRPT)

Sunburst Hospitality has agreed to pay $21.3 million, including the assumption of debt, for 14 hotels owned by Arlington Hospitality Inc.The sale is being orchestrated through the Bankruptcy court for the Northern District of Illinois. So Sunburst is in effect ...

Crain's Detroit Business One Management, a Detroit-based real estate firm, has bought one of two foreclosure notes for La Casa Inn, a run-down hotel in southern Oakland County, Mich. The firm plans on buying the second foreclosure note by Sept. ...

Minneapolis Star-TribuneRobert Gossett Jr. has defaulted on his $47.3 million mortgage for the First National Bank Building in downtown St. Paul, Minn. Gossett, the building's owner, failed to keep his payments current and the property was transferred back to the ...

Arlington Hospitality Inc. has tapped Chanin Capital as financial adviser to help it restructure its debt and/or equity.Chanin, a Los Angeles firm that specializes in recapitalizations and restructurings, was hired following a bankruptcy filing by Arlington Inns, an Arlington unit. ...

An affiliate of W.P. Carey & Co. is giving the keys to a Tulsa, Okla., industrial property to its lender. The property was the victim of a bankruptcy filing by its tenant, Fleming Cos. The CMBS trust that owns the ...

June 23, 2005 Dallas Business JournalCommercial foreclosure postings in Dallas for July are down 20 percent from last year, with 67 postings of commercial properties to be auctioned in July, down from 88 last year, according to the Foreclosure Listing ...

June 22, 2005 Toledo BladeNational Republic Bank of Chicago has asked to foreclose on the Hotel Seagate because of unpaid bills. It is negotiating with several unnamed buyers for the 35-year old property adjacent to the SeaGate Convention Centre in ...

March 4, 2005 AmeriVest Properties Inc. has completed a deed-in-lieu of foreclosure, returning 13 properties it owns to its lender. The properties, which total about 222,542 square feet, were primarily leased to various Texas state agencies in Temple, Clint, El ...

September 17, 2004 The Detroit NewsThe owners of Fountain Walk, a large open-air shopping center in Novi, Mich., have filed for Chapter 11 bankruptcy protection, a move that may hamper the struggling center's attempts to lure new tenants. The mall, ...

May 4, 2004 Amberwood Villas LP of Indianapolis has purchased the 264-unit Allegro Apartments in Phoenix for $20.2 million.The seller was CMVI LLC of Phoenix, which was represented by Sean Cunningham of CB Richard Ellis. Greg Campbell of Landmark TCN ...