COLUMBUS, Ohio (COLUMBUS BUSINESS FIRST) — The owners of the Continental Plaza office tower at 180 E. Broad St. are up against the clock, with a mortgage coming due in two months and a challenging office market weighing on their prospects to sell or refinance.
The ownership group of the Class A building, Terra Funding Trust, an affiliate of Hawaii-based Shidler Group, was two months delinquent on the mortgage as of Feb. 15 , according to loan servicer notes.
The $22 million mortgage, originated in 2013 by the Royal Bank of Scotland, is scheduled to mature May 1. As of this month, the loan’s remaining balance was about $17.8 million, according to loan servicer notes.
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