Buyer Surfaces for Hilltop House Hotel as Auction Looms

Hilltop House Hotel

By CAROL A. CLARK
Los Alamos Daily Post
 
A buyer has surfaced for the Hilltop House Hotel, 400 Trinity Dr., which has been in foreclosure since last fall.
 
The hotel failed to make its $26,000 monthly mortgage payments, spurring Los Alamos National Bank to file foreclosure proceedings against the hotel in October.

Los Alamos businessman Roger Waterman and his family are the largest investors among a group of 17 who put money into purchasing the hotel for $4.8 million in 2005. An additional $600,000 also was raised.

Waterman told the Los Alamos Daily Post this morning that he is aware of the offer by an unnamed entity to buy the hotel.

The buyer is aware that the hotel is in foreclosure, he said, adding that the bank will have to accept the offer from the buyer.

“We are attempting to come up with a process for the bank to proceed in whichever way they choose,” Waterman said.

Managing Partner Ron Selvege has been acting as general manager since Denise Smith left the hotel in November.

If the purchase falls through, the hotel is scheduled to be auctioned off at 11:45 a.m. March 6 in front of the Los Alamos Justice Center, 2500 Trinity Dr.

 

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