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Downtown Louisville skyscraper repossessed after defaulting on $28 million loan
Whas11 ^ | 07/08/2024 | Jay Skebba

Posted on 07/10/2024 6:15:44 PM PDT by ChicagoConservative27

LOUISVILLE, Ky. — A judge recently placed a Louisville skyscraper in a receivership after its owners defaulted on a $28 million loan, according to new court documents.

A lawsuit was filed in June by lender Wilmington Trust National Association in Jefferson County Circuit Court, and accused the owners of the Meidinger Tower of failing to make a monthly payment of $142,204.82 last November. The plaintiffs also claim the owners have not made a payment in any subsequent month.

(Excerpt) Read more at whas11.com ...


TOPICS: Business/Economy; Local News; Reference; Society
KEYWORDS: commercial; loan; louisville; property; realty; repossessed; skyscraper
The commerical real estate bubble is popping
1 posted on 07/10/2024 6:15:44 PM PDT by ChicagoConservative27
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To: ChicagoConservative27

Downtown office.


2 posted on 07/10/2024 6:18:31 PM PDT by Romulus
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To: ChicagoConservative27

Illegal highrise ?


3 posted on 07/10/2024 6:20:08 PM PDT by no-to-illegals (The enemy has US surrounded. May God have mercy on them.)
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To: ChicagoConservative27

Gon’ be ugly.


4 posted on 07/10/2024 6:34:37 PM PDT by FreedomPoster (Islam delenda est)
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To: ChicagoConservative27

High rises will be on sale for 10 cents on the dollar


5 posted on 07/10/2024 7:46:35 PM PDT by eyeamok
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To: ChicagoConservative27

Illegal Alien squatters can claim ownership.


6 posted on 07/10/2024 7:53:17 PM PDT by Mark (DONATE ONCE every 3 months-is that a big deal?)
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To: ChicagoConservative27

$28 M. Pikers. Our gubmint has run up $34T we can’t repay.


7 posted on 07/10/2024 7:57:30 PM PDT by AndyJackson
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To: ChicagoConservative27

You borrow 28 mil and you can’t scrape together a piddling hundred forty two thou? That is some come down!

The rate at which work is slowing down for me lately has me wondering if I’m gonna be in my own version of this before long.


8 posted on 07/11/2024 5:21:10 AM PDT by TalBlack (I We have a Christian duty and a patriotic duty. God help us.)
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To: TalBlack

They missed eight mortgage payments totaling more than a million dollars.

That is barely a day’s skim for the Biden crime family.


9 posted on 07/11/2024 5:23:23 AM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: ChicagoConservative27
From 2015...

Computershare Inc. Opens New Facility in Louisville Facility will support the company's nationwide operations

Buried way down...

...To encourage the investment and job growth in Louisville, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $2.5 million through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets...

More taxpayer money down a rat hole...

10 posted on 07/11/2024 5:41:23 AM PDT by mewzilla (Never give up; never surrender!)
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To: mewzilla

https://ced.ky.gov/Newsroom/NewsPage/08272015_Connolly_iHealth

Incentives for them, too...


11 posted on 07/11/2024 5:42:41 AM PDT by mewzilla (Never give up; never surrender!)
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