Trustee Auction for Westin Tempe Hotel Delayed Again

Article originally posted on Phoenix Business Journal on May 9, 2024

The trustee auction for the 290-room Westin Tempe has been delayed a third time as the owners of the property search for a buyer.

After Las Vegas-based CAI Investments LLC, the owner of the Tempe hotel, failed to make its loan payments, Dallas-based Hall Structured Finance, the lender, filed a notice of trustee sale in January.

The auction sale was set for April 25, but was then delayed to May 1 and then to May 8. Now the auction is set for May 10 at the Arizona Superior Court building in downtown Phoenix. It is unclear why the auction has been delayed yet again.

Read complete article here: https://www.bizjournals.com/phoenix/news/2024/05/08/auction-for-westin-tempe-delayed-for-third-time.html