The developer-owner of the Marriott Tacoma Downtown faces losing the property to an auction set for November to collect on a loan default.
Initial legal action seeking to put the site into receivership was filed in July in Pierce County Superior Court involving project lenders against the developer, Yareton Hotel Investment Management LLC of Seattle.
The original complaint details missed loan payments and a fraught financial situation where the site manager resorted to paying out of personal funds to meet expenses such as payroll…