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Wells Fargo moves ahead with BayWalk foreclosure
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Published: January 13, 2009
BayWalk's owner today agreed to refrain from fighting the complex's foreclosure, meaning the downtown St. Petersburg shopping center could be sold as early as next month.
Representatives of STP Redevelopment Ltd., which owns BayWalk, agreed in a court hearing today to allow Wells Fargo bank to proceed with foreclosure. STP is controlled by local businessman Fred Bullard.
The balance due on the mortgage is about $14.5 million.
Bullard said his company continues to own the property but it is being placed in the hands of an independent trustee.
The shopping center will continue to operate under the trustee's direction, Bullard said.
Reporter Michael Sasso can be reached at (813) 259-7865.
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