Longtime Lake Tahoe waterfront mall heads to auction after loan default

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Tahoe City’s storied Boatworks Mall is heading toward a foreclosure auction, putting the future of one of North Lake Tahoe’s most recognizable lakefront properties back in limbo. The lender for Boatworks at Tahoe LLC, the entity controlled by San Francisco developer MJD Capital Partners, filed a notice of default in January after the owners failed to pay property taxes and provide proof of insurance, S.F. Gate reported. The balance owed to lender Citizens National Bank of Texas was $14.4 million. A trustee’s sale is scheduled for Aug. 12 in Roseville, according to a notice recorded with Placer County. The looming [...] This article originally appeared on The Real Deal. Click here to read the full story.