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Westin Cleveland Downtown will close next week unless judge steps in, lender seeking foreclosure claims


Westin Cleveland Downtown will close next week unless judge steps in, lender seeking foreclosure claims
© Plain Dealer file photo/cleveland.com/TNS
The Westin Cleveland Downtown, seen here in a file photo.
CLEVELAND, Ohio A lender seeking to foreclose on the Westin Cleveland Downtown said the owner’s financial woes would lead to the hotel’s closure by next week unless a judge steps in and appoints a receiver.
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Attorneys for Cleveland International Fund wrote in a court filing Monday that Westin owner Optima 777 either cannot or is unwilling to pay to continue to operate the hotel. Allowing the hotel to close would damage its future business prospects, the lawyers wrote. ....

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Downtown Westin on the Brink, Ukrainian Oligarchs' Cleveland Portfolio Could Be Down to One


Posted
By Sam Allard
on Wed, Mar 10, 2021 at 10:17 AM
click to enlarge
IMG 2485 by jeffpyle is licensed under CC BY-NC-ND 2.0
Three of the Optima Ventures current and former properties: Crowne Plaza Hotel, AECOM Building, One Cleveland Center
Optima 777, one of an array of LLCs grouped under the Optima companies controlled and financed by Ukrainian billionaires, could lose one of its two remaining properties in Cleveland. 
The Westin Cleveland Downtown hotel, which Optima purchased when it was still a Crowne Plaza in 2011, and which opened in 2014 after a $74 million renovation, could close as early as next week if a judge does not step in to appoint a third party to manage it. ....

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U.S. sanctions Ukrainian oligarch with ties to Cleveland commercial real estate


U.S. sanctions Ukrainian oligarch with ties to Cleveland commercial real estate
BLOOMBERG
Vincent Mundy/Bloomberg
The United States has imposed sanctions against billionaire Igor Kolomoisky, who is the subject of a money-laundering probe related to the near-collpase of PrivatBank, Ukraine s largest lender.
The U.S. blacklisted a Ukrainian billionaire and said it s ready to help fight corruption in the country at the center of Donald Trump s first impeachment trial and an effort to discredit President Joe Biden before last year s election.
Igor Kolomoisky, his wife and his two children are banned from entering the United States, Secretary of State Antony Blinken said in a statement Friday, March 5. While he was governor of Ukraine s Dnipropetrovsk region in 2014 and 2015, Kolomoisky was involved in corrupt acts and used his political influence and power for personal benefit, Blinken said. ....

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