May 24–The bank that holds the mortgage on the Doubletree Hotel at The Gallery at Military Circle in Norfolk plans to auction the property at 11 a.m. Tuesday at Norfolk Circuit Court, according to a public notice this week.
The lender, which is not named in the notice, holds the deed on a $6.2 million loan for the property executed in May 2006. City records show that Norfolk SAI Hotel LLC is the property owner. Raj Randeria, who also is part owner of the Governor Dinwiddie Hotel in Portsmouth and Tazewell Hotel & Suites in downtown Norfolk, bought the Doubletree in 2006. He closed it for a renovation in 2009 but had trouble getting financing, he said at the time. Another group of investors assumed the mortgage on the hotel the following year.
