Wanna buy a classy downtown Ogden hotel for cheap? We received this interesting email query late last evening, from another sharp-eyed WCF reader. It was broadly interesting enough that we'll share it with our general WCF readership:
Marriot Hotel is on the Auction BlockYes. This is very interesting, indeed. We searched the S-E digital edition, and did find the notice, although it was a mite too small and faint to make out. We did also find it on the utahlegals.com website however, where it was available in a more readable form:
Did you see the notice in the paper this morning (Monday)? It was different than most notices and I've never seen one that was that big. There was no mention of a debt amount, and a lot of legalese. The thought that the fieldhouse is not dead and about to resurface came to mind. I thought that maybe you could look it over and make some sense of it since you understand legalese.
The property in question? "[A]ll that parcel of land situated in Ogden, Weber County, Utah described as follows to-wit: PROPERTY DESCRIPTION: REAL PROPERTY Legal description of real property known as the Ogden Marriot, 247 24th Street, Ogden, Utah."
The legal situation? What's happening here folks that a Florida-situated entity, namely BACM 2006-5 24TH STREET LODGING, LLC seems to have perfected a civil judgment against the legal owners of this property, attached the hotel property under a writ of execution and scheduled a sheriff's sale, such sale to occur (barring an interim settlement of the matter), on the Second Judicial District Courts Building front steps on the "23 rd February, 2012, at 2:00 pm o 'clock."
We're not going to let ourselves get overly worked up over this at this point, inasmuch as situations like this usually get resolved short of an actual Sheriff's auction. Nor will we speculate whether this situation may be the result of an overbuilt and stressed out local hotel market. We will be keeping a close eye on this nevertheless, in which connection we offer additional thanks to yet another sharp-eyed and alert WCF reader for providing the timely heads up.
So who wants to throw in their own 2¢?
