IBJNews

South-side medical office building in foreclosure

Back to TopCommentsE-mailPrintBookmark and Share

Citizens Financial Bank is seeking to foreclose on a medical office building on the south side of Indianapolis, claiming it is owed $4.1 million on a loan dating from 2002.

The Munster-based bank filed the lawsuit against Park Point Investment Co. in Marion Superior Court on May 9 and is asking a judge to appoint a receiver to oversee the building’s operations.

The building is located on East County Line Road near Community Hospital South. It houses several physician offices, in addition to the hospital’s Rehab & Sports Medicine Center.

Citizens claims in its suit that it loaned $4.6 million to Park Point in December 2002, with the entire principal coming due Dec. 31, 2011.

Park Point defendents listed in the suit include Larry S. Browning and Ronald J. Bowden, who are principals in Shelbyville real estate firm Evergreen Investment Corp.


 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
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
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

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