A key piece of Tacoma’s skyline, the Marriott Tacoma Downtown, was sold at a trustee’s sale outside the County-City Building on Friday morning. The sale came as the result of a receivership case that began in summer 2025.
Beacon Default Management, overseeing the sale, confirmed that the property reverted back to the beneficiary, which was Delphi CRE Funding, a subsidiary of Delphi Financial Group. According to Selina Parelskin, CEO and founder of Beacon, the $50 million sale price was applied as a credit bid to the debt owed by the previous owner, Yareton Hotel Investment Management of Seattle.
Delphi CRE Funding and the Loan Dispute
Delphi CRE Funding, as the project’s lender, was seeking to recover on development debt owed by Yareton Hotel Investment Management, the company that had been overseeing the hotel’s development. A Pierce County trustee sale document indicated that Yareton had defaulted on payments related to a $70 million loan initially granted in 2021. According to the complaint filed by Delphi in July 2025, Yareton failed to make the required payments on the loan, prompting the action that led to the sale.
Financial Difficulties for Yareton
Yareton, a subsidiary of Shanghai Mintong Real Estate Co. based in China, had been experiencing significant financial issues. As reported by The News Tribune in September 2025, the company had fallen into financial arrears with Delphi, failing to meet its obligations for the hotel’s development. There has been no further legal action or filings by Yareton since an October 2025 status report, and the company has not listed an attorney in the receivership case.
What’s Next for the Marriott Tacoma Downtown?
The sale of the Marriott Tacoma Downtown for $50 million effectively resolves the debt dispute, but the future of the property remains uncertain. Delphi’s attorney did not respond to requests for comment on Friday about the next steps for the site.
The Marriott Tacoma Downtown remains an iconic fixture in the Tacoma skyline, and its future under Delphi CRE Funding’s ownership will likely play a critical role in the city’s real estate landscape moving forward.
