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Promenade Mall owner defaults on loan

Promenade Mall
Posted at 5:51 PM, Jul 23, 2019
and last updated 2019-07-23 18:51:11-04

On Wednesday, a court-appointed receiver will take possession of the Tulsa Promenade Mall.

This comes after Ready Capital Corporation, the owner of the mortgage, filed a lawsuit, looking to foreclose on the building's loans.

Ready Capital Corporation claims the mall's owner has defaulted on the loan, not making a payment since March and have not maintained the property.

They are looking to collect more than $7 million from Delaware Limited Liability Company.

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