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01/24/10
Struggling Montelucia resort is purchased by lender
Filed under: General, Real Estate
Posted by: Lillian Wong @ 12:00 pm

David Kadlubowski/The Arizona Republic

The financially troubled Scottsdale resort where President Barack Obama lodged is in the hands of its former

mortgage lender - at least for now.

A trustee’s-sale auction for the InterContinental Montelucia Resort & Spa, 4949 East Lincoln Drive, generated only one third-party offer, from the property’s developer and former owner, Crown Realty & Development Inc.  more…

 


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