12:03pm

Tue June 28, 2011
Business and the Economy

Iconic Lexington Hotel Sold

The future of a landmark Lexington hotel remains uncertain after it was sold for $9 million at a master commissioner's sale Monday. Crowne Plaza Lexington — The Campbell House, at 1375 South Broadway, was in default on its $21 million mortgage. The property was purchased by the mortgage holder, JPMC 2006-CIBC14 South Broadway REO, LLC. Circuit Judge Pamela Goodwine had awarded a judgment against the hotel's owners, Thoroughbred Campbell House LLC, on April 28 and ordered the property sold. She also appointed Chris Bryan, vice president of Hospitality Receiver LLC, to take over management of the hotel. Bryan hired Prism Hotels & Resorts, a hotel receivership and management company based in Dallas, to run the property on a day-to-day basis.