Excerpt from the Dayton Daily News
A foreclosure notice has been filed against four properties owned by Wright State University’s real estate arm, Double Bowler, according to Greene County Clerk of Court records.
Double Bowler also was ordered to pay $10.77 million to Sunflower Public Finance LLC, which held the mortgage on four properties that Double Bowler owned.
Wright State is not involved in the foreclosure case, according to a spokeswoman for Wright State.
In 2019, Sunflower Public Finance, a lender for tax-exempt properties, entered into mortgage and bond agreements with Double Bowler for the properties, in amounts over $10.8 million.
Sunflower sued Double Bowler over alleged nonpayment in May 2024, according to the lawsuit, and the courts appointed a receiver to run Double Bowler in September 2024.
The receiver reported last fall that two of the four buildings had substantial vacancies, in part because WSU had been using some space, but moved those uses back to the main campus. The receiver cited Double Bowler’s lack of pursuit of new tenants and said some plumbing and environmental problems with the buildings needed to be addressed.
