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BayWalk Owner OKs Foreclosure
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Published: January 14, 2009
BayWalk's owner on Tuesday 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 Tuesday 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.
Michael Sasso
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