SAN JOSE — An iconic San Jose hotel has been seized by its lender in a foreclosure that priced the tower at a fraction of its value, a gloomy sign that lodging woes still haunt the city’s fragile downtown.
The Signia by Hilton San Jose, the South Bay city’s largest hotel, has been taken back by its lender through a foreclosure proceeding and the sale of the property to its lender.
BrightSpire Capital, acting through an affiliate, took ownership of the hotel in a foreclosure that placed an $80 million value on the 541-room hotel…