OAKLAND — A big hotel in downtown Oakland has been seized by the property’s lender because of a delinquent loan, a deal that offers fresh evidence of the feeble state of hotels in the Bay Area.
The hotel that was taken back due to its loan woes is a dual-brand Marriott hotel at 1431 Jefferson Street in downtown Oakland, documents filed on March 28 with the Alameda County Recorder’s Office show.
Cook Children’s Health Care Services is the new owner of the 276-room hotel following a deed in lieu of foreclosure, which is a streamlined version of the conventional process for a lender to seize a property with a delinquent loan…