The ownership group of Peachtree City’s Hampton Inn is being foreclosed on, according to published foreclosure notices.
Sapna Hotel Group Peachtree City LLC is in default on a Sept. 2008 loan of $4.115 million on the property located at 300 Westpark Walk, just off Ga. Highway 74 north, according to the foreclosure notice.
The property is scheduled to be sold the first Tuesday in June to the highest bidder. That could change, however, as banks sometimes postpone or cancel foreclosure auctions depending on a variety of factors involved.
The loan was initially made by Haven Trust Bank, which was taken over by the Federal Deposit Insurance Corporation and placed in holding of Matrix Advisors LLC, according to the notice.
This is believed to be Fayette’s first hotel to hit the foreclosure listings, but the tourism industry has been reported to be sluggish here along with the downturn in the economy.
According to the Georgia Secretary of State’s Office, there is only one person listed in conjunction with the corporation: Shamsuddin N. Gillani, who is listed as the registered agent for the business.
State records indicated the company was created in 2006.