The owners of Orlando Fashion Square Mall are being sued by the Bancorp Bank, which is claiming the developer behind the mall owes them more than $400,000 of missed payments on their $42M loan. That number allegedly reflects three months of unpaid rent from this summer.
WFTV reported, HERE, that a lien has been placed on the property due to unpaid property taxes, totaling more than $923,000. According to WFTV, Bancorp is seeking repayment of the loan, interest, and attorney’s fees
A followup report by the Orlando Business Journal claims that the defendant is in turn accusing Bancorp of “defaulting on its obligations” and breaching contract. Read their full report HERE.
No word on how this affects the long-awaited Element by Westin hotel development.
