A Spirit Bank official says the Eastgate Metroplex is not in jeopardy of foreclosure.
Spirit Bank Manager Paul Cornell says one small building on the campus that is owned by a separate company is being foreclosed. Cornell says the situation has been blown out of proportion.
A spokesman for the Eastgate Metroplex also said the complex is not under foreclosure:
"Eastgate Metroplex is not in foreclosure, there appears to be a miscommunication regarding the legal action filed regarding the former Dillards location adjacent to the Eastgate Metroplex," said Rob Phillips, managing partner.
On Friday, owners of the Eastgate Metroplex paid off their loan to SpiritBank following some "miscommunication" regarding the status of that loan.
"There has recently been some miscommunication in the media regarding Eastgate Metroplex being under foreclosure proceedings. While recent reports lead people to believe the legal notice filed by Spirit Bank was on the entire facility, the facility in question is actually the former Dillard's location, which is adjacent to the Eastgate Metroplex. We are pleased to announce the $2.4 million loan in question has been paid in full today," said Rob Phillips, managing partner of Eastland Partners, LLC.
"Furthermore, Eastgate Metroplex is in excellent financial standing and is not experiencing any financial issues. Our group owns more than 2 million square feet of commercial space in Tulsa and the surrounding areas and has never had a foreclosure notice filed on any of our properties over more than 30 years in business. While we regret Spirit Bank's decision and action, we are proud to say we have corrected the issue within one day of being notified of the problem," said Phillips.
Cornell says neither Spirit Bank nor the Eastgate Metroplex are in jeopardy of foreclosure.
