The former OYO Hotel property near Live! Casino was bought by b1Bank, its foreclosing creditor.
No outside bidder emerged during the Bossier Parish Sheriff’s Office’s auction on Wednesday, which closed at 1 p.m. with the bank winning with the minimum bid of $649,000.
Before being seized on Oct. 3 pursuant to the bank’s petition for executory process, the property was owned by the Shreveport-based JSK Hospitality after they purchased it in 2010 for $1.65 million. Heading into the sale, the company owed $1,489,920 in principal along with fees and interest that brought the total owed to at least $1,645,664, according to the court order for the seizure…