Northstar’s Ritz on financial fritz
By Mark Anderson, Sacramento Business Journal
Bank of America has filed a notice of default against the Ritz-Carlton Highlands Lake Tahoe, a luxury resort that opened just four months ago.
The notice of default, filed at the end of March, claims the Highlands Hotel Co. LLC is $18.6 million in default on the hotel and a neighboring parcel. The default involves two loans totaling
Ritz-Carlton at Northstar
$157 million.