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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.

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