Decatur Crossing lenders seeking to impose receiver
The lenders on the Decatur Crossing shopping center have filed in Clark County District Court to impose a receiver.
Column Financial Inc., acting as trustee for the lenders, filed the action on Monday. It contended that the owners Decatur Crossing Center LLC have decided to quit managing the property and cannot make the payments on the $8.5 million loan made seven years ago. The court papers do not total the amount currently owed, including interim payments, back interest and penalties.
The center, immediately west of the Meadows mall, covers 205,000 square feet. It is anchored by Target but has several empty spaces, including a 27,526-square-foot pad formerly occupied by Big Lots.
