AZ Central – Biltmore owners file for bankruptcy « Scottsdale ...

Morgan Stanley Real Estate, the property's lender from 2007 until last month, defaulted on a collateralized loan that CNL-AB had backed. As a result, CNL-AB absorbed the Biltmore and seven other resorts included in an investment portfolio. ... In addition to the Biltmore, resorts in the filing are La Quinta Resort and Club in California; Grand Wailea Resort Hotel and Spa in Hawaii; Doral Golf Resort and Spa in Miami; and Claremont Resort and Spa in Berkeley, Calif. ...

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