HOTEL MEADE FORECLOSED ON
Wednesday, February 2nd, 2011 -- 10:13 AM
One of Central 'Wisconsin's' best-known hotels is being foreclosed on.Hotel Mead in Wisconsin Rapids will be sold at a sheriff's auction after its owner, W R Hotel Properties, failed to make mortgage and property tax payments.
WoodTrust Bank filed the case this week. The management of the facility will be turned over to the banks real estate firm. It?s not clear what the news will mean to the immediate operations of the facility.
W R Hotel purchased the hotel from NewPage Corp. back in 2008. They owe almost $2.1 million on a $3.5 million mortgage from the bank. Consolidated Papers built the hotel in 1951.
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