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Friday, April 20, 2012

Have Governor, Avalon Hotels been sold?

From the looks of this, at least the Governor has changed hands. The address of the new owner, in Stamford, Connecticut, appears also to be the address of the Royal Bank of Scotland. Maybe there's been a foreclosure? Or maybe RBS put together the sale deal.

The new owner appears to have been formed last summer. The two Portland hotels -- one new, the other old -- were reported to be up for sale together last fall.

Comments (2)

Duke Tufty?

Royal Bank of Scotland had to be bailed out by the United Kingdom in the financial meltdowns of '08 & '09. UK government owns some 81% of the bank. This bank continues to struggle altho it is said to be re-starting payment of preferred dividends. But given its sad financial state I should think the Royal Bank of Scotland is being a middle man in this incidence; or maybe having to foreclose on the properties. I don't think it would be launching its real estate investing anew.

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