Rompsen Investment Files $8M Foreclosure Lawsuit Over Loop Site

Bighorn Capital's ambitious plans for a redeveloping a Loop food court are on life support after a lender filed a foreclosure lawsuit against the Vegas-based firm, while the property's tenants are petitioning to force the property into bankruptcy.

Rompsen Investments filed a $7.7M foreclosure lawsuit against Bighorn last month, according to Crain's. Bighorn wanted to build a mixed-use hotel/multifamily project at Garvey Food Court, 201 N Clark. The food court's tenants filed their petition the next day, claiming they're owed $4.8M. They also want a trustee appointed to sell the property.

Garvey Food Court's recent history has been shaky. Bighorn took over the property in 2014 but defaulted on the loan last July. A bankruptcy court judge issued an arrest warrant against Bighorn CFO Jeffrey Mahoney after the company missed a late September deadline to pay tenants the money due them for being forced out of the property. [Crain's]

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