Regions Tower owners face $75M foreclosure suit after missing loan deadline
In addition to its foreclosure demand, Wilmington Trust has requested the appointment of a new receiver for the 685,000-square-foot, 36-story property.
Foreclosures
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Owner of 27-story downtown apartment tower faces $101M foreclosure lawsuit
Since it was completed in 2018 at a cost of $120 million, the tower has become one of the city’s priciest residential properties, with an average rent of $2,365 per month, or $2.58 per square foot.
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Foreclosure suit filed against owner of Wilshaw hotel property
Officials with the town of Speedway, which is not named in the lawsuit, said they are “carefully monitoring” the situation and in communication with the developers on the matter.
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Circle Tower owner facing foreclosure for alleged nonpayment
Chicago co-working company Expansive bought the landmark building on Monument Circle before the pandemic. Centier Bank says Expansive still owes $12.9M on its loan and has fallen behind on payments.
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Despite foreclosure, experts see bright future for The Shops at Perry Crossing
The shopping center—the 10th-largest in the Indianapolis area, at 600,200 square feet—was repossessed by its lender in October, after Memphis-based owner Poag Shopping Centers LLC defaulted on a $29.9 million loan balance in June. It’s the second foreclosure for the property, which used to be called Metropolis.
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Articles
Tsunami of deferred debt is about to hit homeowners no longer protected by a foreclosure moratorium
Congress approved $10 billion in federal assistance to help homeowners pay off debt, but the program is moving so slowly that protections are expiring before states have figured out how to distribute the money.
Millions fear eviction as end of federal moratorium nears
The U.S. Census Bureau’s biweekly Household Pulse Survey shows that nearly 4.2 million people nationwide report that it is likely or somewhat likely that they will be evicted or foreclosed upon in the next two months.
Bank CEOs tell Congress they’ll work to avoid foreclosures
The chief executives of the nation’s largest banks went in front of Congress for a second day Thursday, facing questions ranging from inflation to their efforts to keep Americans in their homes after pandemic aid expires this summer.
Plainfield mall facing foreclosure for 2nd time after owner misses $30M payoff
The owners of the Shops at Perry Crossing had been hoping to sell the shopping center before a May deadline to pay off the property’s loan balance, but the pandemic ruined those plans.
Bank alleges developer owes nearly $16M for project near airport
The suit, filed Tuesday in Marion Superior Court by Evansville-based Old National Bank, claims Paul Kite and his firm owe the bank $15.8 million.
Former AIT Labs owner faces $4.4M suit over HQ building
The once-booming toxicology business struggled for years under declining revenue and huge debts before being acquired last year by a Texas private equity firm. Its Park Fletcher headquarters building remains empty.
Landlord’s Marsh bet leaves trail of foreclosures
Landlords across Indiana are feeling the pain from the collapse of Marsh Supermarkets, but none more so than a Canadian firm that had as many as 12 of the grocer’s stores in its portfolio.
Foreclosure suit alleges Mainscape affiliate owes more than $6M on loan
The 100,000-square-foot building on Keystone Avenue once served as the headquarters for the landscape firm Mainscape Inc.
Hofmeister retail property headed for foreclosure sale
The sale is intended to resolve a lawsuit filed by Wells Fargo Bank that accused Hofmeister of defaulting on a $2.3 million mortgage on the building.
Hofmeister faces $2.4M suit over Clearwater jewelry store
The foreclosure lawsuit is the latest legal problem for the 43-year-old retailer, which is still trying to pay off debt from a Chapter 11 bankruptcy it filed in 2011.
Bill would weaken protections for homeowners in foreclosure
Banks support proposed state legislation that could prevent Hoosier homeowners from using a settlement process to avoid foreclosure. But the sponsor of a bill with the controversial provision says he will strike it.
Bill addressing foreclosure-prevention options under fire
An Indiana law that has helped thousands of residents at risk of foreclosure keep their homes could be "gutted" under a bill being considered by state lawmakers, housing advocates say.
Struggling strip centers reorganizing under bankruptcy
The two centers are owned by Centre Properties and located on the east and west sides of Indianapolis. Meanwhile, in a separate case, a lender is seeking to foreclose on several industrial buildings.
Lender files to foreclose on downtown’s Villagio condos
First Horizon Home Loans claims the owner of the Villagio at Page Pointe still owes nearly $5.2 million on an $11.6 million loan and is asking a court to appoint a receiver to manage the property until it’s sold.
Lender forecloses on two downtown office buildings
The Gold Building and Two Market Square have been struggling to maintain tenants and face a potential exodus of others to the county’s proposed criminal justice complex.
Lender to bankrupt country club puts on suitor’s cap
The lender for the Hawthorns Golf & Country Club is an affiliate of California-based Concert Golf Partners, which hopes to convert its debt into ownership of the Fishers club.
HDG Mansur affiliate losing ownership of Market Tower
A Marion Superior Court judge on Tuesday entered a judgment to foreclose on the downtown building after MT Acquisitions LLC failed to pay its nearly $60 million mortgage balance.
Dora Brothers affiliate loses downtown hotel in bankruptcy
The Fishers-based company lost the Comfort Suites City Centre near Lucas Oil Stadium in a bankruptcy reorganization filed by one of its affiliates, which owed a creditor about $12 million.