Battered Broadbent climbs back from brink
One of the city’s best-known retail developers is alive and kicking again after a harrowing real estate downturn and protracted legal battle with two lenders.
One of the city’s best-known retail developers is alive and kicking again after a harrowing real estate downturn and protracted legal battle with two lenders.
A newly public filing shows the co-founder of The Broadbent Co.’s net worth has fallen 60 percent, to $48 million.
Developer George P. Broadbent sold The Broadbent Co. to his wife for $50,000 in March 2010 as he faced a barrage of lawsuits threatening his control over the real estate company he co-founded in 1972. He has also transferred several properties to her.
Six people were key mentors and associates during real estate career in Indianapolis.
Shopping center on East 82nd Street lists nearly $10.4 million in liabilities and about $7.6 million in assets. The Chapter 11 filing follows a request to foreclose on the property from the center’s lender.
The owner of the building that houses the Music Mill concert venue listed assets of $1.4 million and liabilities of $1.3 million.
Avis Skinner alleges Broadbent isn’t making the payments he committed to when he bought out her husband's real estate
interests in 2006.
Two new lawsuits stemming from Broadbent Co.’s financial problems charge company President George Broadbent defaulted
on loans and owes more than $2.6 million.