Pine Bluff Hotel Update
By: Import User
Updated: January 7, 2009
Buyers plan to close as early as this
week on the Pine Bluff Convention Center Hotel.
They have until August 27th to complete the sale. Officials had
predicted the deal would be finished by July 30th, but they pushed
the closing date back to work out some details.
Garry Becker, one of the buying partners, said all outstanding
issues have been resolved. Becker, president of Canada-based
International Hotel Management Incorporated, is buying the hotel
with New York-based Turner Hughes Corporation.
The hotel was sold to Zions First National Bank at a December
foreclosure sale after its former owner defaulted on its loan. An
Austin, Texas, developer that won an auction for the hotel withdrew
its bid this summer.
