Valley West Mall in foreclosure after allegedly failing to make payments on $50M loan
BPC Staff May 25, 2022 | 3:32 pm
1 min read time125 wordsAll Latest News, Iowa News, Retail & Business
Des Moines Register: After years of struggling to remain viable, Valley West Mall is under foreclosure. U.S. Bank filed the action in Polk County District Court last week, alleging the owners of the 47-year-old mall — once the Des Moines metro area’s premier shopping destination — have not made loan payments since May 6, 2021. They owe the bank $3.5 million, the foreclosure petition says. The bank has requested that the court appoint a receiver to take control of the West Des Moines property and manage rent and loan payments, as well as order Valley West Mall to pay the remainder of its original loan, totaling at least $41.2 million, plus liquidation fees, legal expenses and interest.
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