Everett Mall owners face July 9 foreclosure

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by KING 5 News

KING5.com

Posted on June 19, 2012 at 7:48 AM

Updated Tuesday, Jun 19 at 3:00 PM

The owners of Everett Mall need to come up with $8 million by July 9 to pay off past due interest, late charges and fees or they’ll face foreclosure.

The Everett Herald reports California-based real estate investment management company Steadfast Commercial Properties, which has owned the mall since 2007, defaulted on a $98 million loan in March.

If Steadfast can’t find the money, the acting trustee says the deed will be sold to the highest bidder on July 20.

The Herald reports that on April 18, Steadfast was $5.8 million behind on interest, late fees and attorney's fees.

Read more at the Everett Herald

Information compiled by KING 5's Travis Pittman

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