So, the Hill Country Galleria just sold for $75m. The BANK LOAN WAS $195m! That is a major bubble in my book. So how can residential property be completely insulated from that kind of decline? Especially out in Lakeway/Bee Caves. Spanish Oaks anyone?
Chicago firm makes high bid for bankrupt Hill Country Galleria
A Chicago real estate firm was the high bidder in a bankruptcy auction for the Hill Country Galleria in Bee Cave and has put the mall under contract.
REIT Management & Research LLC offered $75 million for the mall, according to Eric Taube, the attorney for Hill Country Galleria LP, the partnership that owns the 2-year-old mall.
The auction was held Jan. 15 at Taube's...