- Associated Press - Tuesday, November 8, 2016

SOUTH BURLINGTON, Vt. (AP) - The owner of the University Mall in South Burlington has turned over the 55-acre property in a foreclosure action.

Mall owner Todd Finard tells The Burlington Free Press (https://bfpne.ws/2fyQKCZ ) his Boston company, Finard Properties LLC, has turned over the deed to LNR Property LLC, based in Miami Beach, Florida.

Finard defaulted on the $92 million loan it has on the mall. The loan was forgiven.

Finard would like to regain ownership of the mall and plans to bid on the property once it is put up for sale. LNR could take as much as two years to list the property.

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Information from: The Burlington Free Press, https://www.burlingtonfreepress.com


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