Wall Street Journal Ad Shows Debt Auction For Johnstown Galleria
Posted: 2:20 pm EST December 3,2009Updated: 6:09 pm EST December 3,2009
JOHNSTOWN, Pa. -- An ad in the Wall Street Journal on Wednesday revealed an auction of collateral for defaulted debt and names the Johnstown Galleria.The auction will sell "bad debt" dealing with the Galleria. It was not clear who defaulted on the debt nor what the auction means for local shoppers.Representatives from Zamias Group, which manages the mall, said they had no comment.The auction is scheduled for Dec. 22 and involved 82 percent of leasehold interest of the Galleria. The interest is names as collateral on a $3 million loan.Calls to the property owner -- Gemini Real Estate Advisors of New York -- were not immediately returned.Stay with WJACTV.com and WJAC-TV News for continuing coverage as details become available.
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Wall Street Journal Ad Shows Debt Auction For Johnstown Galleria
Posted: 2:20 pm EST December 3,2009Updated: 6:09 pm EST December 3,2009
Copyright 2010 by WJACTV.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.