Quote Originally Posted by BrushStart View Post
Isn't this one of Ferchill's developments?
No, you are thinking of the Hilton Garden Inn of Detroit that Ferchill developed. However, he lost that hotel in foreclosure in October 2010 to Wells Fargo Bank and another lender. Currently the two lenders are suing Ferchill for $5.5 million in a deficiency judgement for the loan.

There was a report out in late 2010 that 50.9% of the Detroit metro hotels are 90 days in default on their mortgage loans. Not good.