November 17, 2024 1:38 am
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Viscount suites in foreclosure but owners, lender working on a deal

ViscountBy Hillary Davis, Inside Tucson Business

Tucson’s Viscount Suite Hotel is facing a trustee’s sale unless the owners and lenders can reach a resolution to its proprietors’ default on an $8.5 million loan.

An affiliate of HSL Properties, a prominent real estate investment firm, holds the note. Local developers Joe and Larry Cesare own the hotel through their company Broadway Hotel One.

The hotel is scheduled for auction on May 8 at the Pima County courthouse. Western Regional Foreclosures is handling the sale.

In addition, online records with the Pima County Treasurer indicate that Broadway Hotel One last paid property taxes for the Viscount in May 2010. The back tax bills total more than $950,000, including interest.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.