"A hotel cluster in San Jose with hundreds of rooms faces a loan foreclosure as soon as this month if the property's owner doesn't cure the delinquent financing. The 204-room hotel site consists of a Motel 6 and a Super 8 by Wyndham, according to documents on file with the Santa Clara County Recorder's Office. 204-room hotel complex at 2560 Fontaine Road in east San Jose that includes a Motel 6 and a Super 8 by Wyndham lodging."
"Choice Hotels International provided the hotel complex with a $21.7 million loan in August 2024 and is now pressing ahead with a foreclosure proceeding before the end of October, county property documents show. An affiliate headed up by Texas-based lodging executive Jagmohan Dhillon obtained the loan from Choice Hotels. The hotel complex is at 2560 Fontaine Rd. near the interchange of U.S. Highway 101 and Tully Road. An affiliate that Dhillon also controls is in default on a 104-unit lodging property at 4673 Lassen Road."
A 204-room hotel complex in south San Jose, comprising a Motel 6 and a Super 8 by Wyndham at 2560 Fontaine Road, faces a foreclosure if the owner does not cure delinquent financing. Choice Hotels International originated a $21.7 million loan in August 2024 and is advancing a foreclosure proceeding before the end of October. The loan was made to an affiliate led by Texas-based lodging executive Jagmohan Dhillon. An affiliate controlled by Dhillon is also in default on a 104-unit property at 4673 Lassen Road. The case reflects broader Bay Area hotel financial strain, including recent lender seizures and distressed sales in Oakland.
Read at www.mercurynews.com
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