Concord Mall claims buyer still owes $6.9M

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(Amanda Wilkinson/Elkhart Truth)

The company that sold the Concord Mall last year says the buyer still owes more nearly 7-million dollars and wants the property to be sold again.

Concord Mall Properties LLC sold the mall to real estate to Ton Real Estate Investments back in February 2020.

Concord says Ton executed a promissory note worth $6.48 million and a mortgage on the property securing the promissory note.

They say Ton defaulted on its payments due under the promissory note by failing to pay monthly interest and property tax escrow since last October.

The Elkhart Truth reports the Concord company wants the court to foreclose on the mortgage and enter judgement against Ton Real Estate.

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