Foreclosure Claims FL Days Inn

KISSIMMEE, FL— The title to the 404-room Days Inn– Maingate East here has been taken from Lakeside Maingate Associates Ltd. by the property’s first-mortgage holder, a Southwestern U.S. bank. The property was sold at auction to the bank Apr. 3 for $100— the minimum, opening and ultimately winning bid. Amount owed at the time of foreclosure was said to be roughly $11 million. Part of a larger complex built in the early 1970s at a reported cost of some $3,000 per room, this three-story portion of the overall site includes two restaurants and a gift shop complementing the lobby area. The facility also features an outdoor pool and children’s play area, as well as a pool bar outlet. According to David Akridge, vp for Portsmouth, NH-based Ocean Hospitalities, his company has contracted for third-party management responsibilities for the hotel on behalf of the bank’s interest, and will oversee operations at the property until its ultimate disposition.—Michael Billig