County administrator responds to bank foreclosing on The Greene after millions in unpaid debt

BEAVERCREEK — The Greene County Administrator has responded after a bank filed foreclosure for The Greene Town Center in Beavercreek.

County Administrator Brandon Huddleson said in a statement:

“The Greene Town Center is a very important economic driver in the county.  We were surprised to hear about the foreclosure action and we are hopeful the owners of the Greene Town Center and the lender can work out an arrangement that avoids litigation.  The good news is; the businesses there can remain open and should not be impacted.”

>> ORIGINAL COVERAGE: Bank forecloses on The Greene for nearly $113 million in unpaid debt

As News Center 7 previously reported, Wells Fargo claims The Greene defaulted on a loan after paying less than a fifth of the total by the deadline.

The original loans taken out in 2013 were for more than $137 million, according to the court documents.

Wells Fargo claims The Greene defaulted because it failed to pay the total by the loan’s maturity date, which was December 1, 2023.

As of May 1, Wells Fargo says The Greene owes nearly $113 million.

>> RELATED: ‘There is panic;’ Business owners fearful after bank forecloses The Greene over unpaid loans

In a statement for News Center 7 on Thursday, a spokesperson for The Greene said ownership has been “actively engaged with its lender, negotiating in good faith and over a period of time, to find a reasonable and mutually agreeable outcome.”

“While we are disappointed with the recent actions of the lender, it is our intention to continue to work with them to find a resolution. The Greene Town Center, which boasts the Dayton region’s largest variety of upscale retail, restaurants, entertainment, office space, and luxury residential units, remains open for business as usual and is excited to announce new and first to market tenants to the Dayton market,” the spokesperson said.

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