NEWARK — A Newark hotel was seized by its lender due to a delinquent loan, a foreclosure that highlights the wobbly values for the region’s hospitality market.
The Hyatt Place Newark/Silicon Valley hotel at 5600 John Muir Dr. is now owned by an affiliate of lender State Bank of Texas following a foreclosure of an $18 million loan, documents filed on Oct. 17 with the Alameda County Recorder’s Office show.
The bank paid $25.8 million for the 112-room hotel, equal to the unpaid debt on the loan, which State Bank of Texas provided in 2019 to the hotel’s owner…