The original lender in the foreclosure of Pointe Hilton Tapatio Cliffs Resort and its adjacent golf club took ownership of the north Phoenix property following its Dec. 29 auction after the resort’s former owner defaulted on a $55.2 million loan.
C-III Asset Management LLC, the beneficiary, became the property’s owner after no one placed a starting bid of $51 million. The beneficiary then formed Top24 – 7th Street Phoenix LLC.
Details about the Delaware-based company were unavailable. Officials from C-III Asset Management did not respond to interview requests Wednesday.