The lender for the Thompson Hotel, a luxury property located in downtown, has assumed ownership of the hotel following a foreclosure auction held this week.
The Thompson Hotel, situated at 205 North Akard Street, was transferred to an affiliate of Pacific Life Insurance Co. after the property was auctioned on the courthouse steps. The hotel, which opened in 2020, had been facing financial difficulties leading up to the foreclosure event.
According to county records, Pacific Life Insurance Co. provided the original $46 million loan for the development of the Thompson Hotel. The foreclosure auction was conducted on Tuesday, with the lender’s affiliate submitting the winning bid for the property.
The 219-room hotel includes several dining venues and a rooftop bar, and is located in the historic National building in downtown. The property was previously managed by Hyatt Hotels Corp. under the Thompson brand.
The foreclosure process began earlier this year after the hotel’s ownership defaulted on the loan. The auction resulted in the transfer of the property to the lender, who now controls the asset.
Representatives for Pacific Life Insurance Co. have not commented on future plans for the hotel. The Thompson Hotel continues to operate, and no immediate changes to management or branding have been announced.
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