Three New Jersey hotel properties are being auctioned off this week as part of a $200 million real estate online auction.
The nonperforming loans of a Staybridge Suites, Holiday Inn Express and Comfort Inn can be bid upon through 5 p.m. Thursday on Auction.com.
The Staybridge Suites loan, with a $10.2 million remaining balance, has a starting bid of $2.4 million. The property, at 4115 Church Road, in Mount Laurel, sits on 4.24 acres and includes 99 extended-stay rooms.
The 100-room East Brunswick Holiday Inn Express, at 4 Tower Center Blvd., has a starting bid of $2.3 million. Its loan balance is $8.8 million.
The loan for the Comfort Inn at 286 Route 46, in Fairfield, has a current balance of $6.2 million, and the starting bid for the 70-room property is $1.25 million.
The hotel loans are part of a nationwide auction that includes more than 70 mostly nonperforming notes backed by multifamily, retail, industrial, office and mobile home parks in 24 states.
Auction.com said it has sold more than $9 billion in real estate assets since 2007 to residential and commercial lenders, servicers and builders.