U.S. Bank is suing the owner of Chesterfield Mall and seeking a receiver for the struggling property.
The bank, which is acting as trustee on behalf of investors, alleges that CBL & Associates Properties is in default on repayment of a $140 million loan. The bank’s lawsuit, filed Thursday in St. Louis County Circuit Court, names Chesterfield Mall LLC, the CBL-controlled owner of the mall.
U.S. Bank is asking the court to appoint Washington, D.C.-based Madison Marquette Retail Services as receiver, giving it the authority to manage the mall and collect rent from tenants.
The mall, in west St. Louis County near Highway 40 (Interstate 64) and Clarkson Road, has more than 1.3 million square feet of space.
Read more: St. Louis Post-Dispatch