Southbridge Associates Proposes $5 Million Wellsworth Hotel Property Sale
Southbridge Associates LLC has sought court approval to sell the property containing the Wellsworth Hotel and an office building in Southbridge, Massachusetts, to an affiliated buyer for $5 million. The proposed sale to Lundgren Equity Partners LLC or its nominee is subject to court approval and competing offers. Sale motion.
The proposed price is below the approximately $14.48 million mortgage and all-asset lien the debtor lists for X-Caliber Rural Capital LLC. The motion proposes that liens attach to sale proceeds, subject to later determination of their validity, extent and priority. Sale motion.