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Lender files foreclosure action on Rochester Airport Marriott
The Marriott in Greece, which was sold in 2023, is now facing foreclosure. (File photo by Kevin Oklobzija)
The Marriott in Greece, which was sold in 2023, is now facing foreclosure. (File photo by Kevin Oklobzija)
Lender files foreclosure action on Rochester Airport Marriott
Listen to this articleThe Marriott hotel in Greece is facing foreclosure proceedings, three years after it was sold by its Rochester developer.
In papers filed Friday in state Supreme Court in Monroe County, mortgage holder Rochester Hotel BNK5 2025-5Y14 LLC alleges the hotel owner has defaulted on repayment terms.
SAI Global Investments LLC, which bought the property at 1890 West Ridge Road from DelMonte Hotel Group in May of 2023, hasn’t made a payment since November, the complaint alleges.
As a result, the mortgage holder has declared a default and demanded full payment on the balance due, which includes the original $14.5 million mortgage, plus unspecified interest.
SAI Global Investments paid $8.5 million to East Rochester-based DelMonte Group, which developed the seven-story, 210-room hotel in 1978. Known as the Airport Marriott, the hotel was the second hotel developed by DelMonte.
The current mortgage to SAI Global Investments and managing member Ashish Kapoor was issued by Morgan Stanley Bank N.A. in March 2025. It was transferred to Morgan Stanley Mortgage Capital Holdings LLC in April 2025, transferred to Computershare Trust Co., N.A., in October 2025 and then transferred yet again, this time to Rochester Hotel BNK5-5Y14 in April.
Terms required interest-only payments from May 1, 2025, until April 1, 2027, then installments of principal and interest payments totaling $106,932.09 would be required until a maturity date of April 1, 2030.
Operations at the hotel have not been interrupted.
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