Fort Collins hotel faces foreclosure
FORT COLLINS – The owners of a 61-room hotel on the east edge of Fort Collins have been issued a foreclosure demand worth more than $1.36 million.
The “notice of election and demand” filed Friday with the Larimer County Public Trustee requires Ghazanfar Khan, Mohammad Tafail Khan and Zulfiqar Khan of Spearfish, South Dakota, owners of the Baymont by Wyndham hotel, 3808 E. Mulberry St., to cure their debt with Points West Community Bank before a foreclosure sale tentatively set for March 6.
The original loan at 12.75% variable interest, approved in July 2016, was for $1.7 million. The principal balance as…
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