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Property owner creditors hope 337 acre Gateway site worth at least $35M
Source: The Olympian, by Rolf Boone
South Sound developer Tri Vo's Hawks Prairie Investment LLC has until March 15 to try to sell its 337 acres in Hawks Prairie as part of a bankruptcy settlement approved Friday between the Vo-managed company and one of its largest creditors. December 18, 2010 Hawks Prairie Investment filed Chapter 11 bankruptcy in August, and its largest secured creditor is HomeStreet Bank of Seattle. Hawks Prairie borrowed $32.9 million from the bank to develop property around the outdoors store Cabela’s into the Lacey Gateway Town Center, the first phase of which would consist of 1.2 million square feet of office and retail space and 500 residential units, according to court documents. Cabela’s is considered an anchor tenant for the site.
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