Correction: Opus West Mall Files Chap. 11

PHOENIX-The firm was hurt by construction loans it owes on Hill Country Galleria mall, in Austin, TX, according to reports.

By Ian Ritter | May 06, 2009 at 05:30 AM

was posted for a May 1 foreclosure Arizona Republic

The move comes after Opus West affiliate Opus South filed for bankruptcy late last month. That entity has $324 million in bank loans maturing this year and was hit especially hard by the bottoming out of the condo market in Florida, executives said.

Opus West has built more than 52 million square feet of projects across nearly all commercial real estate property types since launching in 1979.

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