Northwest-side medical building facing foreclosure

Back to TopCommentsE-mailPrintBookmark and Share

A Northbrook, Ill.-based investment firm says it is owed $4 million and is seeking to foreclose on a medical office building near St. Vincent Hospital in Indianapolis.

Road Bay Investments LLC filed a foreclosure notice on May 5 in Marion Superior Court and is attempting to take possession of the 30,000-square-foot building at 8424 Naab Road.

The firm said Sacramento-based Panattoni Investments LLC, the operator of the building, assumed obligations of the property’s mortgage on March 7, 2005, and has failed to repay it.

As of May 1, the unpaid balance of the loan is $4 million, the court filing said.

Tenants of the medical office building include Indianapolis Endocrinology & Diabetology Inc., Mid America Clinical Labs and Northside Gastroenterology.

About 6,600 square feet of space is available for lease, according to an online listing of the property.



Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ