Judge appoints receiver for Hotel Northland
GREEN BAY (WLUK) – A judge appointed a receiver Tuesday to oversee the renovations & finances of the Hotel Northland project.
Work started several years ago remodel the facility – once the Schroeder Hotel, more recently senior housing – into an upscale, boutique hotel. However, the project has run into several financial problems, halting construction.
Judge William Atkinson named Paul Swanson the receiver. He told the court will start the process of reviewing all claims, liens and unpaid bills.
Also, the judge approved Octagon Credit Partners – which has agreed to provide the capital needed to complete the work – to buyout one of the other lenders involved in the project.