The auction of a Soscol Avenue shopping center facing a $37.3 million foreclosure has been postponed one week – to Oct. 11, said a title company employee on Friday. The auction was originally scheduled for Friday, Oct. 4.
On Sept. 11, lender Loancore Capital Credit REIT filed foreclosure proceedings against the owner, Napa Crossing South II.
The south Napa shopping center is now scheduled to be auctioned off outside the Napa County Courthouse, located at 1111 Third St., on Friday, Oct. 11 at 1:30 p.m. The center's tenants are not directly involved.
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Napa Crossing North and South were both developed by Pacific Properties of Chico. The company also developed Napa Crossing north on Trancas Street.
A spokesperson with Pacific Properties Group could not be immediately reached on Friday for a comment.
Napa Crossing South opened in 2014.