GoToby: Palm Coast’s Microtel in Foreclosure Sale
FlaglerLive | June 15, 2014
As a result of a Final Judgment of Foreclosure entered on June 5, 2014, Microtel Inns and Suites on Old Kings Road will be sold July 21.
Sold most recently for $7 million in 2007, the property is now assessed for $1.84 million. The sale will include real estate and personal property owned by the business. The plaintiff in the foreclosure action is BACM 2007-4 Kingswood Lodging LLC. Eskridge Capital LLC is the defendant.
Microtel joins Holiday Inn Express as local motels in apparent financial trouble. According to available public information, Holiday Inn Express’s property taxes for 2013 and 2014, totaling over $80,000 remain unpaid. Holiday Inn Express is assessed for $1,900,000.
Microtel was built in 2000, Holiday Inn Express in 2002.
–Toby Tobin, GoToby.com