‘Expected’ closing date passes with no sale of Phillips 66 property

LOUISVILLE — The expected time frame for Bancroft Capital to close on the purchase of the 432-acre Phillips 66 property in Louisville has come and gone, and neither party is willing to talk about it.

Last year, media reports indicated that California-based real estate investment firm Bancroft Capital had the property under contract for $50 million, and the deal was expected to close during the first quarter of 2018.

Dennis Nuss, director of media and external relations for Houston-based Phillips 66 Co., said via email on Wednesday, “I can confirm that the transaction…