Augusta's Partridge Inn is up for foreclosure sale

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The hotel that once played host to Michael Jackson, Charlton Heston and Reba McEntire will be up for foreclosure sale Aug. 2.

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Walton Way Hotel LLC, the owner of The Partridge Inn, defaulted on a $16 million loan in September 2009. The hotel, which has played host to several celebrities and celebrations, has remained open.   File/Staff
File/Staff
Walton Way Hotel LLC, the owner of The Partridge Inn, defaulted on a $16 million loan in September 2009. The hotel, which has played host to several celebrities and celebrations, has remained open.

Walton Way Hotel LLC, the owner of the Partridge Inn at 2110 Walton Way, defaulted on a $16 million loan, according to Richmond County Superior Court records.

The Atlanta investment company bought the hotel in 2005 for $8.1 million and spent millions more to renovate its rooms, lobby and other amenities.

The owners lost a lawsuit in Superior Court on June 29, and foreclosure notices were filed.

Court records said Walton Way Hotel failed to make a monthly payment Sept. 6, 2009. The owners were given notices in November and December 2009 that the "amount had been accelerated."

An entity named Walton Way Limited Partnership gave notice Jan. 27 that the debt was due, then filed suit Feb. 18.

The $16 million commercial mortgage was originally issued by Greenwich Capital in December 2006.

The mortgage changed hands and landed with Bank of America after a merger with LaSalle Bank.

After the default mentioned in the court documents, Bank of America assigned the right, title and interest in the loan to Walton Way Limited Partnership in April 2010.

Attorneys for both Walton Way Limited Partnership and Walton Way Hotel could not be reached for comment Friday. Messages placed with the general manager of the Partridge Inn also were not answered Friday.

The hotel has remained open since the court ruling and the filing of the foreclosure notice.

The foreclosure sale will be Aug. 2 at the courthouse, according to a legal notice.

The Partridge Inn, which celebrated its 100th anniversary last year, was built in 1836 as a private residence. Morris Partridge bought the property in 1892 and opened the it as a 60-room upscale hotel Jan. 8, 1910. The hotel now has 144 guest rooms, more than 5,000 square feet of meeting space and more than a quarter-mile of wrap-around verandas and balconies.

Walton Way Hotel's mailing address is on Peachtree Street in Atlanta, in care of New South Partners LLC, which received a historic preservation honor from Historic Augusta for the renovation of the hotel.

The Partridge Inn also received a $2.5 million loan guarantee for acquisition and rehabilitation of the hotel, with the goal of creating 53 jobs for low-income people, according to the city's Housing and Community Development Department.

See the foreclosure notice
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DowntownJaguar
121
Points
DowntownJaguar 07/15/11 - 04:03 pm
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0
Riverman1 will be

Riverman1 will be ecstatic.
countyman will say that this is proof that the Augusta economy is booming.

Craig Spinks
817
Points
Craig Spinks 07/15/11 - 04:07 pm
0
0
DowntownJaguar, Bad news! To

DowntownJaguar,

Bad news! To folks like you, Riverman1 and myself.

But, as you say, (C)ountyman will spin it as the greatest economic news for the CSRA since the announcement of the establishment of SRP/SRS in the late forties/early fifties.

Alan English
6
Points
Alan English 07/15/11 - 04:09 pm
0
0
A reader's eagle eye on a

A reader's eagle eye on a legal notice led to this brief. We are still reporting and will have more later -- and tomorrow.

Riverman1
86916
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Riverman1 07/15/11 - 04:19 pm
0
0
Thanks, Craig Spinks.

Thanks, Craig Spinks. DowntownJag...ha....But speaking of Jaguars, I wish ASU would somehow end up with this venerable hotel where we've all had great times. It would fit with them beautifully.

floridasun
310
Points
floridasun 07/15/11 - 04:26 pm
0
0
Well this is definitely not

Well this is definitely not good news.The PI is an Augusta institution.
Hopefully someone will buy it, continue to make upgrades and keep this wonderful historic hotel open.

DowntownJaguar
121
Points
DowntownJaguar 07/15/11 - 04:33 pm
0
0
LOL--good point Riverman1. I

LOL--good point Riverman1. I hope someone can rescue it. I would hate for it to end up like the Bon Air.

raul
5323
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raul 07/15/11 - 04:33 pm
0
0
That is a good thought,

That is a good thought, Riverman.

Riverman1
86916
Points
Riverman1 07/15/11 - 04:37 pm
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0
Thanks, Raul...3 times..heh.

Thanks, Raul...3 times..heh. But think about it for a minute. ASU wants dorms badly, but the neighborhood doesn't want any new construction. Why not use the Partridge Inn? It would save the building, get it under state ownership, help the college tremendously and expand the college without construction or moving into the neighborhood. This is a once in a lifetime opportunity for ASU.

tnjsw
0
Points
tnjsw 07/15/11 - 04:47 pm
0
0
It is a landmark that should

It is a landmark that should be kept. Walton Way would not be the same. Many memories.

Riverman1
86916
Points
Riverman1 07/15/11 - 05:07 pm
0
0
Well, the Indian folks are in

Well, the Indian folks are in town buying up things at the Chronicle. They love hotels. Maybe they could swing by and take a look at it if Augusta State doesn't want it. But, seriously, I want everyone to get behind the state buying it for ASU. That's room for at least 300 students real close to the main campus. They would keep the historic character of the building and serve a pressing need with housing for students.

The residents around the college don't want expansion of ASU, but I believe they would be willing to accept this idea. If not who knows how it will end up. Look at what happened to the Bon Aire that used to be one of the most beautiful hotels in the nation.

fredhenry
0
Points
fredhenry 07/15/11 - 05:08 pm
0
0
How does Noble Investment fit

How does Noble Investment fit into this? Trace the money...

seenitB4
90795
Points
seenitB4 07/15/11 - 05:17 pm
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0
No...say it ain't so...I

No...say it ain't so...I loved Sunday Brunch there.......:()

Granddaddy John
101
Points
Granddaddy John 07/15/11 - 05:18 pm
0
0
Another piece of our history
Unpublished

Another piece of our history to be lost.

EMS6465
0
Points
EMS6465 07/15/11 - 05:30 pm
0
0
"Retired Army" the condo idea

"Retired Army" the condo idea is a good one, but would you really want to live across the street from the Ghetto Bon-Air.

floridasun
310
Points
floridasun 07/15/11 - 05:31 pm
0
0
I don't think ASU acquiring

I don't think ASU acquiring the PI is a good idea.They acquired the historic Forest Hills Hotel back in the late 1980's and look at where that hotel is today.
The best idea for this property is for it to continue to be operated as it was intended...as a first class hotel

Riverman1
86916
Points
Riverman1 07/15/11 - 05:39 pm
0
0
Floridasun, it is being

Floridasun, it is being reported in other places that they simply don't have enough guests to pay the bills. It has just been remodeled, so I doubt there's any interest in continuing it as a hotel. Again, look at the Bon Aire and consider the alternative to ASU taking it.

raul
5323
Points
raul 07/15/11 - 05:39 pm
0
0
@floridasun. I'm not familiar

@floridasun. I'm not familiar with the Forrest Hills Hotel issue. Can you elaborate. Continuing use as a hotel is fine if someone would buy it for that purpose. Got to ask yourself though, why didn't that work out under the current owners?

Riverman1
86916
Points
Riverman1 07/15/11 - 05:44 pm
0
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Friends, let's all be honest

Friends, let's all be honest here, the Partridge has had it as a hotel. Business travelers are using the new, easy motels. Augusta is simply not a destination city for tourists except for the Masters. Organizations using the meeting areas can find better facilities in other places that are more convenient around I=20 and so on. This place will end up condos with charity housing, under whatever name. We need something drastic to save it. The Summerville residents would get behind ASU and the state buying it if they are smart.

Tim Rausch
8
Points
Tim Rausch 07/15/11 - 05:45 pm
0
0
A call was placed to Noble

A call was placed to Noble Investment. An investor relations spokesperson there said that the company does not have interest in the hotel, despite its listing on Noble's website.

floridasun
310
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floridasun 07/15/11 - 05:59 pm
0
0
Raul The Forest Hills Hotel

Raul
The Forest Hills Hotel was a historic hotel similar in appearance to the Bon Air, adjacent to he Forest Hills golf course that ASU acquired supposedly for expansion. Then they tore the historic property down and eventually sold the property to Billy Morris. It has sat vacant for about 20 years.
Riverman, the PI is located close to downtown and the medical district. Not everyone wants to stay in the cookie cutter chain hotels on Washington Rd. In my opinion Washington Rd is one ugly strip, and is a really poor representation of Augusta
The bottom line, the PI needs to be saved!

Sweet son
10736
Points
Sweet son 07/15/11 - 06:10 pm
0
0
What a hoot!!!! LOL I know

What a hoot!!!! LOL I know the participants in the bridal party!!!! Wedding is to be held there tomorrow evening!!!

Willow Bailey
20603
Points
Willow Bailey 07/15/11 - 06:47 pm
0
0
What a shame, the PI, was a

What a shame, the PI, was a wonderful part of Augusta's history and social calendar. I do love the idea of it becoming a part of ASU rather than ending up like the Bon Air. Like some others, I don't think upscale condo's would be the ticket as it would be cheaper to mow it down and begin anew. Augustans need to keep thinking though, and exchanging
ideas. How about as a medical facility, any usage there?

Riverman1
86916
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Riverman1 07/15/11 - 06:58 pm
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0
Floridasun, they just had the

Floridasun, they just had the multimillion dollar renovation 10 years ago and they are still not able to make the payments, much less turn a profit. It's not going to work as a hotel as nice as that would be. So we have to consider the other options.

dougk
3
Points
dougk 07/15/11 - 06:59 pm
0
0
It is really a "cool" idea
Unpublished

It is really a "cool" idea for ASU to acquire it. But student housing I doubt would work. Students today would have no appreciation for the historical significance of the building...only the inconveniences...college students today are expecting much more....if you haven't seen the current day student housing and went to college over 20 years ago...I would like to see your face when you do.
I hate to see it go because it's an Augusta icon, but I think it's days as a hotel are done, IMHO.

Riverman1
86916
Points
Riverman1 07/15/11 - 07:31 pm
0
0
Let's not overlook this: "The

Let's not overlook this: "The Partridge Inn received a $2.5 million loan guarantee for acquisition and rehabilitation of hotel with the goal of creating 53 jobs for low-income people, according to the city's Housing and Community Development Department."

raul
5323
Points
raul 07/15/11 - 07:31 pm
0
0
Riverman, the sale is 2

Riverman, the sale is 2 August. Do you think ASU could go through the whole decision making/financial process in that short of time? I would hope so, but the wheels of bureaucracy grind slowly. We will see. If I was a student, I would rather live in a place with some history and class rather than a sterile dorm environment.

dougk
3
Points
dougk 07/15/11 - 07:33 pm
0
0
Raul, ask an 18 year-old
Unpublished

Raul, ask an 18 year-old about that....for real. Dorms today are not sterile...like with concrete block and 2x4 lofts.

Pu239
284
Points
Pu239 07/15/11 - 07:55 pm
0
0
I remember going to the Club
Unpublished

I remember going to the Club in the basement when I was just a lad. Had lots of fun there and listened to a lot of great local bands.

stanley
2
Points
stanley 07/15/11 - 08:32 pm
0
0
ASU didn't just tear down the

ASU didn't just tear down the old VA. It had many issues, abestos was one of them. That was one of the reasons the VA built the facility on 15th Street. There was no way ASU could remove the abestos and remodel it to make it function as needed. I believe they knew it when it was purchased, but I'm not 100% sure of that. I hope the PI remains a hotel.

augusta citizen
9692
Points
augusta citizen 07/15/11 - 08:42 pm
0
0
This is a real shame, I love

This is a real shame, I love the Sunday brunch there, or drinks at the Verandah Bar, but I can see that there isn't much demand for people staying there.

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