The development site of a San Jose boutique hotel is headed for an auction and foreclosure on its delinquent real estate loan.
SAN JOSE — The development site of a San Jose boutique hotel is headed for an auction and foreclosure on its delinquent real estate loan, the second such proceeding involving a lodging site in the Bay Area’s largest city.
The Cambria Hotel project default marks at least the second hotel site in San Jose that has been approved by the city for development that is headed to auction and foreclosure of a delinquent loan without ever starting construction. Both hotels were approved prior to the coronavirus outbreak that devastated the global travel and lodging industries.
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