Saturday, September 4, 2010
A day after the Hilton Pittsburgh was stripped of its brand name, mortgage-holder Blackrock Financial, Inc. has gone to Allegheny County Court seeking to foreclose on Shubh Hotels Pittsburgh, the owner of the downtown Pittsburgh hotel. Blackrock is seeking $49.6 million, the amount of the loan, plus interest. In addition, Blackrock has asked Common Pleas Court to order the sale of the hotel. On Thursday, Hilton Hotels and Resorts ended its franchise lease agreement with Shubh for "violation of terms." However, a Hilton spokesman would not elaborate.
Posted by wduqnews at 8:25 AM