Auction for Hilton in downtown Minneapolis delayed
MINNEAPOLIS -- The auction for Minneapolis' largest hotel which was originally scheduled for Friday has been delayed.
A Hennepin County judge ordered a foreclosure auction for Hilton Minneapolis on South Marquette Avenue in April 2021 as many businesses struggled in the wake of the COVID-19 pandemic.
The property's owners, Chicago-based Walton Street Capital and California-based Haberhill, owed more than $200 million, according to court documents.
The Hilton stayed open throughout the COVID-19 pandemic, though court filings showed the property owners missed their first mortgage payment on a $180 million loan in April 2020.
Wells Fargo, the loan's underwriter, as well as a separate servicing company, filed suit in October 2020.
RELATED: Why Minneapolis Hilton's foreclosure may be more about the owners' past than downtown's future
The hotel, which has 826 rooms, was to be sold to the highest cash bidder at a public auction on Friday, but was delayed by the attorneys representing Wells Fargo Bank; Hennepin County then granted the cancellation.
The date for the auction has not been rescheduled.