Jan
06

Charleston Retail Centers to be Auctioned

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Two Charleston shopping centers are scheduled to be auctioned to the highest bidder on Tuesday.

Citadel Mall, located at 2070 Sam Rittenberg Blvd. in West Ashley, has a judgment of more than $69 million, according to Charleston County’s Master-in-Equity auction list. Its neighbor West Ashley Shoppes is more than $24 million in debt.

Wachovia Bank National Association loaned $75.2 million to Citadel Mall CMBS LLC in March 2007 with an annual interest rate of 5.68%, according to court documents. The mall didn’t pay the full monthly payments from May through July 2013, the documents said, and the company filed a mortgage foreclosure complaint July 31.

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