BEAVERCREEK — The Greene Town Center has entered into a refinancing deal that will bring an end to the foreclosure proceedings that the shopping center was facing.
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The Greene entered into a 10-year refinancing agreement that will bring the dismissal of its foreclosure lawsuit, a spokesperson for The Greene said on Friday.
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“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.”
As New Center 7 previously reported, Wells Fargo said The Greene owed them more than $112 million. The bank said it’s unpaid from a loan of more than $137 million that the shopping center took out over a decade ago.
In July, The Greene responded to the lawsuit in a push to get it tossed out. Lawyers for The Greene admitted that the shopping center did not pay in time, but said they were “entitled to a 5-day written notice” which they hadn’t seen.
News Center 7 checked court records on Friday and did not see an official notice of a dismissal filed for the lawsuit. We’ll continue to check on the case.
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