The two Class A office buildings totaling 348,000 square feet are close to being sold after falling into foreclosure during the implosion of defunct local developer Premier Properties USA Inc.
Executives of defunct Indianapolis developer Premier Properties USA Inc. are negotiating to settle a lawsuit brought by the U.S. Department of Labor that claims the company raided employee retirement accounts in a last-ditch bid to save itself in early 2008.
A Lake Clearwater mansion formerly owned by Premier Properties founder Christopher P. White is up for sale with an
asking price of $1.48M.
CB Richard Ellis recently began marketing the most prominent of Premier Properties’ local properties, Metropolis. The
at the southwest corner of East 86th Street and Keystone Avenue also is up for grabs.
Authorities are considering pursuing criminal charges against Christopher P. White and other executives at Premier Properties
USA Inc. in connection with deepening troubles at the local development firm, sources familiar with the matter told IBJ.
Premier Properties USA Inc. has eliminated about half its headquarters staff—more than 40 employees—as banks seize
several of its properties and CEO Christopher P. White faces a barrage of new lawsuits alleging unpaid bills, defaulted loans,
illegally redirected rent payments and check fraud.
Premier Properties USA Inc. is scrambling to keep up with bills for basic services including snow removal,
security and interior design—more signs of financial troubles for the developer of Metropolis in
Plainfield and the proposed Venu project in Indianapolis.
An IBJ review of hundreds of pages of public records shows Christopher P. White and his Premier
Properties USA Inc. are facing major financial and legal challenges. The most glaring signs of trouble: Contractors have filed
more than $3.5 million in liens against Premier’s retail properties in Plainfield; the state of Indiana is trying to
recover $375,000 in sales taxes on White’s airplane; and the contractor who renovated his Lake Clearwater mansion
is suing him to recover more than $600,000 in unpaid bills.
A judge on Wednesday afternoon sentenced Christopher P. White to one year on home detention and three years of probation in
connection with a $500,000 bad check he wrote last year as he tried to save his real estate development firm, Premier Properties