Valley View Center to be Auctioned Tuesday

$125 million owed on property

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    NEWSLETTERS

    Getty Images/OJO Images
    The 38-acre Valley View Center complex will be up for auction on Tuesday after going through foreclosure.

    The 38-acre Valley View Center complex will be up for auction on Tuesday after going through foreclosure.

    Miami-based LNR Partners has been in control of the mall since Arizona-based Macerich announced it could not pay the outstanding balance on the property in 2011.

    The unpaid balance on the mortgage is $125 million, though the last appraisal only valued the property at $32.9 million.

    The auction will be held from 10 a.m. to 4 p.m. on the north side of the George Allen Courts Building in Dallas.