Monday, Jul. 27, 2015    Login | Register           

PTC's Hampton Inn headed for foreclosure

The ownership group of Peachtree City’s Hampton Inn is being foreclosed on, according to published foreclosure notices.

Sapna Hotel Group Peachtree City LLC is in default on a Sept. 2008 loan of $4.115 million on the property located at 300 Westpark Walk, just off Ga. Highway 74 north, according to the foreclosure notice.

The property is scheduled to be sold the first Tuesday in June to the highest bidder. That could change, however, as banks sometimes postpone or cancel foreclosure auctions depending on a variety of factors involved.

The loan was initially made by Haven Trust Bank, which was taken over by the Federal Deposit Insurance Corporation and placed in holding of Matrix Advisors LLC, according to the notice.

This is believed to be Fayette’s first hotel to hit the foreclosure listings, but the tourism industry has been reported to be sluggish here along with the downturn in the economy.

According to the Georgia Secretary of State’s Office, there is only one person listed in conjunction with the corporation: Shamsuddin N. Gillani, who is listed as the registered agent for the business.

State records indicated the company was created in 2006.

Topic: 
Location: 

Ad space area 4 internal

Government

The Peachtree City Police Department has been selected by the International Association of Chiefs of Police as the recipient of first-place honors in the National Law Enforcement Challenge for effo

Sponsored Content

Lifestyle

More than 25 people took to the path at Newnan Utilities Carl Miller Park July 25 for Piedmont Newnan Hospital’s Walk with a Doc, led by Ashish Dhungel, M.D., nephrologist at The Kidney Clinic.