Newspaper article Charleston Gazette Mail

Hotel Tax Lien Sold at Auction

Newspaper article Charleston Gazette Mail

Hotel Tax Lien Sold at Auction

Article excerpt

A tax lien on the site of La Quinta Inn & Suites at Crossings Mall in Elkview was sold at the Kanawha County Sheriff's Tax sale last week. Emerald Grande LLC, owner of the property, is headed by Bill Abruzzino, who owns Crossings Mall.

Abruzzino is currently at the center of a federal lawsuit filed by U.S. Bank, which alleges his company, Tara Retail Group, defaulted on the $13.6 million loan from the bank and hasn't made any mortgage payments since the June flooding that washed out the only bridge to access Crossings Mall.

The fact that the hotel site's tax lien was sold means the owners haven't paid their 2015 and 2016 property taxes.

At the time of the sale, they owed $132,000 in taxes on the site.

The company that purchased the loan is a well-known out-of-state investor called Christiana Trust, which purchases tax liens in bulk at the county sale each year. …

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