Maui: Queen K Center faces foreclosure suit Owners express optimism for mall’s future
KAHULUI — Despite facing a foreclosure lawsuit after defaulting on a massive loan, Queen Ka’ahumanu Center owners through a representative expressed optimism about the future of Maui’s main mall.
Lender U.S. Bank filed for foreclosure on the Kahului shopping center on Nov. 12, alleging owner QKC Maui Owner LLC defaulted in June, according to 2nd Circuit Court documents. The lender said nearly $87.5 million was owed on the loan as of Oct. 14.
“It is in the best interests of all parties concerned to maintain both the operations and the appearance of the center, while protecting the interests of center tenants and customers,” Stephanie Zimmerman, manager and general counsel for the mall owners, said via email Thursday. “Optimistically, we hope to get an opportunity to restructure the debt as well, when COVID-19 has passed.”
