The Godfrey Hotel Hollywood is facing foreclosure after its lenders served a notice of default on nearly $60 million in debt. A lending group led by an AllianceBernstein fund filed the notice in October against the five-year-old boutique hotel at 1400 North Cahuenga Boulevard, the Los Angeles Business Journal reported. The borrower owes $59.1 million. Oxford Capital Group purchased the 20,000-square-foot development site in 2016 for $16.5 million. It spent the next five years seeing the Godfrey Hotel to completion, officially opening the doors of the 220-room property in 2021. The seven-story lodging is part of Oxford’s nationwide boutique hotel […]
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