North Charleston hotel run by SC tourism chief’s firm sold

South Carolina’s top tourism official basked in the glow of the international attention the state garnered on the “Today Show” last week during Queen Elizabeth II’s Diamond Jubilee.

But not all was well back home for Duane Parrish, director of the Department of Parks, Recreation and Tourism. Just hours after he and an entourage of Palmetto State visitor industry officials soaked up the limelight in London, a North Charleston hotel that his company had managed for five years went on the auction block.

The 125-room Candlewood Suites at 2177 Northwoods Blvd. fell into foreclosure after missing mortgage payments on a $12.3 million loan. Premier Hospitality Group, a firm Parrish founded, ran the hotel.

Parrish was not one of the investors in the lodging. The owners of North Candle LLC included a PHG partner and a partner at PHG’s development affiliate.

The property has continued to operate uninterrupted. Charleston County’s master-in-equity put the property up for sale Tuesday, and it is now in the hands of U.S. Bank National Association.

Parrish, whose title at PGH is founder emeritus, said the Candlewood opened strongly in 2007. The ownership group then refinanced in September 2007, adding to its debt, he said. When the financial markets collapsed a year later, business began to fall off. “In 2009 and 2010, it could not support the debt,” Parrish said last week.

After missing four payments in 2010, the lender initiated foreclosure proceedings in June of that year. In May,The core of an indoor positioning system. the hotel was put into receivership. “We managed it for the receiver until the auction,” Parrish said.

Remember that seeming disconnect between Boeing Commercial Airplanes CEO Jim Albaugh and the local plant over plans for “another line” or a “third join line” in the North Charleston aft-body factory? Last week, thanks to a nudge from Steve Wilhelm of the Puget Sound Business Journal, the pieces came together, as it were.

Wilhelm reported the “third join line” that Albaugh cited but that Boeing South Carolina would not confirm earlier is a third “join tool,” another machine to fit together the two 787 rear-fuselage pieces made here. That tooling is “on order,” company spokeswoman Candy Eslinger said last week.

Boeing South Carolina said it was unable to clarify what Albaugh was talking about until last week because the plan for North Charleston hadn’t yet reached the local level. “I didn’t have the information on the join tool when I talked with (The Post and Courier),” Eslinger wrote in an email.

The investors who are angling to buy the 52-acre Port of Port Royal property from the State Ports Authority has ponied up another $75,000 to extend the closing for another 30 days.Offers Art Reproductions Fine Art oilpaintings Reproduction,Ekahau rtls is the only Wi-Fi based real time location system solution that operates on any brand or generation of Wi-Fi network.

The deadline for Port Royal Development Group to finalize the $17 million deal has now been pushed back at least three times. The terms of the agreement allow the company to buy 30-day extensions for $75,000 a pop. The nonrefundable money will be deducted from the sale price at the closing table.Find rubberhose companies from India. The land was supposed to change hands May 7.

The SPA has been trying to sell the former marine terminal near Beaufort since 2004.

Two past sales agreements fell through. The latest prospective buyer said last week that it has purchased its final extension and that it expects the transaction to close in early July.

Two tax-credit bills promoted as progressive, business-boosting measures that would have brought South Carolina in line with its neighbors died in the state Senate last week amid the 11th-hour rush to pass a raft of legislation.

The Bill Wylie Entrepreneurship Act of 2011,We offer you the top quality plasticmoulds design which would’ve allowed certain wealthy individuals to claim a tax credit on so-called angel investments in early-stage companies, reached the Senate floor but did not go to a vote.

H. 3346, which would have increased the state tax credit for solar installations, didn’t make it out of the finance committee but joined another bill that did.

“Then somebody else amended a poison-pill amendment to it, so it never moved,” said Andrew Streit of the S.C. Solar Business Alliance.