Among the noteworthy deals of the past week was an affiliate of Torchlight Investors acquiring the Renaissance Baltimore Harborplace Hotel at a foreclosure auction.
BALTIMORE —
One of downtown Baltimore’s largest hotels was acquired back by its lender for
$30 million, according to a story in the Baltimore Fish Bowl.
The 622-key
Renaissance Baltimore Harborplace Hotel in Maryland sold at a foreclosure auction to DF VII
REIT Holdings LLC, an affiliate of New York City-based Torchlight Investors.
The hotel
opened in 1988 and was initially called the Stouffer Harborplace Hotel. An
affiliate of Delaware-based The Buccini/Pollin Group acquired the hotel portion
of the development in July 2020 for $80 million.
Foreclosure
proceedings began last year after the owner defaulted on a $71 million loan.
Philadelphia-based GF Hotels & Resorts was named to operate the hotel after
a Baltimore judge ordered it into receivership in December.
To download
our list of deals from the past week in Excel format, click here.
Deals of the
Week is a weekly feature by Hotel Investment Today that publishes in our Friday
newsletter. Click here for previous deal compilations from earlier weeks.