The Baton Rouge Marriott is being listed on an online auction site, with a starting bid of $7 million.
Auction.com has a listing for the 299-room hotel and the 5.5 acres of land it sits on. The auction is scheduled to begin Sept. 15 and end Sept. 17.
According to the site, The Plasencia Group, a hospitality sales, investment consulting and advisory firm based in Tampa, Florida, is helping with the marketing of the Marriott. Tours of the hotel, which includes about 20,000 square feet of meeting and banquet space and a 6,050-square-foot ballroom, were offered earlier this week.
CCMS 2005-CD 1 Lodging, a pool of commercial mortgage loans, acquired the hotel at 5500 Hilton Ave. in September for court costs, which came to a little more than $2,200. The lender said it planned to market the high-rise hotel to potential buyers.
CCMS had seized the hotel a few months earlier from Columbia Properties Baton Rouge Ltd. At the time, it said Columbia owed $32.8 million as of May 1 on a $36.5 million promissory note signed in 2005. The interest and other fees owed to CCMS brought the total debt to close to $39 million.
Columbia Properties bought the hotel in late 2000 from Massachusetts Mutual Life Insurance Co. for $20.6 million.
The hotel, which is just off Interstate 10 near College Drive and Corporate Boulevard, has been in business since 1976, first as a Hilton. The hotel switched flags in 2000, becoming a Marriott after Columbia bought the property.