Blaine Hospitality faces foreclosure proceedings after defaulting on a $5 million loan to Home Federal Savings. The developer says construction delays are to blame.
The developers of a 98-room hotel near the National Sports Center in Blaine are facing foreclosure after defaulting on $5 million in construction financing.
Home Federal Savings Bank of Rochester is suing Blaine Hospitality of Bemidji, Minn., its partners and several subcontractors who have mechanics liens against the hotel property. Michelle Jester, a Minneapolis attorney representing Home Federal, last week declined to comment about the complaint.