Twin Peaks bankruptcy sale postponed

LONGMONT — The bankruptcy sale of the Twin Peaks Mall has been postponed until at least Jan. 11, according to the Boulder County Public Trustee.

The 555,602-square-foot mall is owned by Panattoni Development Co., which bought the mall for an undisclosed amount in August 2007.  The mall opened in 1985.

The mall went into foreclosure in September, after its owner fell behind on a $26.5 million loan from Bank of America, according to public trustee’s office records.

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The sale was scheduled for Wednesday, Jan. 4. It was delayed because Bank of America did not submit the bid figure necessary for the auction to proceed, a trustee’s office staffer said.

NewMark Merrill Cos., the company hired by Panattoni in July 2010 to manage the mall, has put in a contract to purchase the property. Representatives of the company, which is based in Woodland Hills, California, and has a regional office in Fort Collins, cannot discuss its plan for the mall, citing a confidentiality agreement.