Women’s physician building targeted for foreclosure

A building on the northwest side of Indianapolis is the target of a foreclosure claiming that owner Women’s Physician Group LLP has defaulted on a $9 million loan.

The lawsuit filed Dec. 13 by U.S. Bank claims that the physicians group received the loan in April 2007 and stopped payment in August this year, owing $8.7 million in principal.

Including penalties and fees, though, U.S. Bank is seeking a total of nearly $10.5 million, according to the suit.

A Marion Superior Court judge is set to consider Jan. 10 a request from U.S. Bank to have a receiver appointed to manage the property during foreclosure proceedings.

The 33,617-square-foot building at 8081 Township Line Road is completely occupied, according to the website of Cornerstone Companies Inc., the building’s broker.
A representative of the physician group could not be reached for comment.

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