Marriott Colorado Facing Bank Owned Property Listings

Marriott-branded real properties located in Fort Collins, Colorado are facing bank owned property listings. Last August, notice of demand for sale and election were filed in Larimar County on the properties which are part of the portfolio of Los Angeles, California-based Integrated Capital LLC.

The filing of notice is actually the first stage in the arduous and long process of repossession. It also means that the homeowner has defaulted on his mortgage payments. According to records, Integrated Capital bought three Marriott properties, The Residence Inn, The Courtyard and Marriott Hotel in September of 2006 from a group of investors, led by Everitt Cos. And Sitzman-Mitchell and Co.

At the time the properties were sold, Everitt President David Everitt said that the Marriott performed well as an investment. He said that they supported the cap rates imposed on hotels, adding that it was the ideal time to sell according to the business cycle.

By Cassiano Travareli