More than 20 properties are being foreclosed on in the Arbor Glen subdivision of Hamilton Proper in Fishers.
A Hamilton County judge recently ruled in favor of the State Bank of Lizton, which is seeking more than $2.2 million from Arbor Glen I LLC.
Indianapolis developer Harold Garrison, who filed for bankruptcy in October and is already facing other criminal and civil investigations, is listed as the president and chief executive officer for Arbor Glen I LLC.
Garrison’s HDG Mansur development company led the Hamilton Proper residential community project.
In an unrelated case, two Cayman Islands-based investment funds have won a $5.8 million civil fraud lawsuit against Garrison and HDG Mansur. The presiding federal judge concluded that the company committed “a massive theft on the flimsiest of pretexts.”
Arbor Glen I LLC still owns 24 undeveloped residential parcels along the north side of the neighborhood near 116th Street. According to development plans, there are 83 properties within the two sections of the Arbor Glen subdivision at Hamilton Property with house prices ranging from $450,000 to $700,000.
As of October 2014, Arbor Glen I still owed $2.2 million on the $3.6 million loan it received in October 2007. The State Bank of Lizton sent Garrison default notices in June 2013 and June 2014. It filed the lawsuit in November.
In addition to the $2.2 million the bank requested, the court is also requiring the company pay for the bank’s attorney fees, totaling more than $63,000.
According to court documents, Arbor Glen I also owes nearly $500,000 in homeowner association fees to Hamilton Proper Community Association LLC. The community association is also listed as a defendant in the foreclosure case, and requested the court require Arbor Glenn pay the fees, but the judge ruled the bank's claim to the mortgage was superior to the homeowners association's interest in the property.
Last year, another Garrison-affiliated company known as Hamilton Proper Golf Partnership LP filed for bankruptcy on the Hawthorns Golf & Country Club at Hamilton Proper.
An offshoot of Newport Beach, California-based Concert Golf Partners purchased the golf course for $5.5 million in bankruptcy court in November 2014.
The properties in Arbor Glen are set for a sheriff’s sale July 9, when the bank is likely to take possession. The addresses include:
- 11568 Arbor Glen Boulevard
- 11556 Arbor Glen Boulevard
- 11532 Arbor Glen Boulevard
- 11533 Arbor Glen Boulevard
- 11557 Arbor Glen Boulevard
- 11569 Arbor Glen Boulevard
- 11584 Glen Ridge Circle
- 11585 Glen Ridge Circle
- 11588 Ardsley Circle
- 12139 Edgefield Drive
- 12127 Edgefield Drive
- 12031 Edgefield Drive
- 11995 Edgefield Drive
- 11971 Edgefield Drive
- 11911 Edgefield Drive
- 11899 Edgefield Drive
- 11887 Edgefield Drive
- 11587 Edgefield Drive
- 11587 Townsend Court
- 11579 Townsend Court
- 11581 Bridgegate Court
- 11553 Bridgegate Court
- Two parcels along 116th Street without assigned addresses