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Hospitality Group of Hickory faces foreclosure sale

A foreclosure hearing is scheduled next month in Mecklenburg County involving four hotels owned by Hospitality Group of Hickory, a hotel-management company.

According to court documents, Hospitality Group signed a promissory note in September 1998 with Wachovia Bank for $13.85 million for the four properties, two of which are in Hickory while the others are in Pineville and Lincolnton.

Court records show Wachovia assigned the note to Morgan Guaranty Trust Co. of New York, which in turn assigned it to JPMorgan Commercial Mortgage Finance Corp.

On Dec. 1, Hospitality Group defaulted on the loan, court records show.

The properties are listed for sale at $1.4 million, and a foreclosure hearing is scheduled for March 28.

Hospitality Group did not return calls for comment.

Sam Boykin can be reached at sam.boykin@mecktimes.com.

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