The Wyndham Jacksonville Riverwalk Hotel was sold Thursday to its lender in a foreclosure auction held by the Duval County Circuit Court.
An affiliate of Miami Beach-based LNR Partners LLC acquired the Southbank hotel at 1515 Prudential Drive for $100, according to court records.
LNR is a real estate firm that specializes in dealing with troubled commercial real estate loans.
A spokesman for LNR said the firm did not want to comment about the Wyndham.
The foreclosure lawsuit was filed in January 2010 by LNR affiliate GECMC 2007-C1 Prudential Drive LLC against the Wyndham’s owner, a Miami partnership called Riverwalk Hotels LLC.
Duval County Circuit Judge Lawrence Haddock ruled in November that Riverwalk Hotels was in default on $34.1 million in mortgage principal, interest and fees and ordered the foreclosure sale.
The property was developed in 1980 as a Sheraton hotel and was later rebranded as a Radisson before being converted to a Wyndham in 2006.
Riverwalk Hotels bought the hotel in February 2001 for $21.05 million, according to property records.
The Wyndham has 323 rooms and five floors, according to its website.
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