Robert Gans’ lender wanted the strip club owner to put more skin in the game. But after Gans allegedly failed to put cash on the table, Richard Mack’s Mack Real Estate Group may leave him naked of a portfolio of properties.
The lender initiated foreclosure proceedings last week against 11 properties owned by Gans, claiming in court documents that Gans owes $1.7 million to an interest reserve account per a $130 million refinance loan originated by Mack Real Estate Credit Strategies.
The properties under threat of foreclosure include two strip clubs along with hardware and auto repair businesses.
Mack served Gans with a default notice in April 2020 over the missing payments, demanding the outstanding principal in full the following August, according to court filings. Gans had received $148 million from Mack and Bluestone Capital in 2018 to refinance debt on 20…