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Lenders Seek Foreclosure On Town Square

town square Lenders Seek Foreclosure On Town Square

One of Las Vegas’ premier shopping and entertainment destinations may soon face forclosure.

Lenders who financed the Town Square mall and office complex are owed $449 million, and  have asked a New York bankruptcy court to allow them to foreclose on and resell the center, located on the corner of Las Vegas Blvd. and Sunset Road. 

Talks for a voluntary foreclosure have broken down, attorneys said in a motion filed this week in the massive bankruptcy case of Lehman Brothers Holdings Inc.

Although the facility would most likely continue to operate as it has, the story is quite complex.  Read more about it in today’s Las Vegas Sun:

http://www.lasvegassun.com/news/2011/jan/13/lenders-seek-foreclose-town-square-mall-las-vegas/

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