TOPEKA, Kan. (KSNT) – Topeka’s West Ridge Mall has been acquired by its mortgage lender at an auction after the former owners failed to make payments.
Wells Fargo Bank purchased West Ridge Mall for $27,120,000 Tuesday morning at a Shawnee County Sheriff’s auction, according to Shawnee County District Court records. They show the Shawnee County Sheriff’s Office signed off on a court order of sale to plaintiff Wells Fargo.
The bank filed to foreclose on the mall in May after owning company Washington Prime failed to make mortgage payments. A judge directed the Woodmont Company to take over management of West Ridge for Washington Prime within the same month, in hopes of revitalizing it and increasing the number of tenants.
Representatives for Wells Fargo, the Woodmont Company and Washington Prime did not return requests for comment as of Wednesday morning.
With ownership returned to Wells Fargo, the future of West Ridge Mall now lies in the hands of the bank.