WASHINGTON, DC-After being postponed at least twice, the auction for the troubled Shops at Georgetown Park is moving forward today, according to a source. Jones Lang LaSalle‘s John Kevill and Collins Ege, who were tapped to handle the auction of the property earlier this year, are taking bids in New York. It is unclear how long the process will last, the source said--it could range from hours to days. 

Getting to this point was a bumpy road for the participants: Western Development defaulted on the $70 million loan earlier this year. The now-owner of the loan, Capmark Finance, filed for bankruptcy last October. It reportedly tried to sell its stake in the property twice, and then contacted JLL to auction it off.

Meanwhile, Anthony Lanier, president of EastBanc, who alleges he was illegally excluded from a deal to buy the retail center by his former partner, Herb Miller of Western Development, has teamed with JBG to bid on the mall, according to a story in the Washington Post earlier this month. Lanier and Miller have been locked in litigation for the better part of a decade, hamstringing Western Development in its attempts to lease up the property.

The winning bid--which could be any of these players or an unrelated party interested in the asset--will have to be approved by the bankruptcy judge. JLL, Western Development and JBG did not return a call to GlobeSt.com in time for publication.