Wells Fargo Bank, which filed the foreclosure complaint in May, declined to comment Monday.
Court docket filings in the foreclosure case in Greene County Common Pleas Court do not show any dismissal of the case. There are no new developments listed in the docket since a procedural filing Aug. 30.
The 72-acre, 1.1 million square foot outdoor shopping mall was the subject of a lawsuit in May. Wells Fargo Bank filed a foreclosure complaint in Greene County Common Pleas Court in May against the owners of the Greene Town Center, claiming that the mall, apartment and office complex owes the bank about $113 million in loan payments.
“This refinancing and our ongoing dedication to the long-term health, growth and success of the property, underscore the strength of the Greene and mark a significant milestone,” said Zach Bornstein, CEO, Olshan Properties. “We look forward to continuing our mission of providing a vibrant shopping, dining, and entertainment destination for the community.”
In November 2013, seven years after The Greene first opened, they entered into a deal in which Citigroup Global Markets Realty Corp. agreed to loan them $137.25 million. In March 2014, the deal was severed into two promissory notes ($90 million and $47.25 million), which eventually were transferred to Wells Fargo.
Wells Fargo claimed that as of May 1, it was owed $71.8 million on the $90 million note, and $41.1 million on the $47.25 million note, plus interest that continued to accrue at $28,780 per day.
The Greene includes a variety of upscale restaurants, retail and entertainment uses, office space, and residential units on the Beavercreek-Kettering border, at I-675 and Indian Ripple Road.
About the Author
