Tag: Star village
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Creditor Alejandro Arguelles and Gatoralex Consulting LLC Calls Tzadik Refinancing Deal an Insider Move
RAPID CITY, S.D. — A contested deal to refinance a South Dakota apartment portfolio tied to Tzadik principal Adam Hendry was pushed back to September, after a judgment creditor formally objected to the deal and a broker separately asked the court to resolve a related deadline question, at a hearing Monday before Judge Mindy A.…
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How Nectar, Inc. was Embedded in the Tzadik Collapse before a Rapid City Bankruptcy was even Filed
Rapid City SD – A complex web of corporate maneuvering is quietly determining the fate of Rapid City’s distressed apartment properties. As Tzadik Rapid City Portfolio I, LLC approaches a critical Aug. 31 bankruptcy hearing, a seemingly independent buyer has emerged to recapitalize the portfolio. But a paper trail — running from a press release…
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Star Village and Aspen Park Diverge as Landlord’s Refinancing Bid Heads to an August 31st Hearing
Rapid City SD – For more than a year, Star Village and Aspen Park have moved through federal bankruptcy court as a single unit. That’s about to change. A refinancing deal now pending before a Florida bankruptcy judge would send the two properties down separate paths, with one likely refinanced into stable new ownership and…
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Judge Approves Auction Backstop for Rapid City Apartment Complexes as Refinancing Pursued in Lieu of Sale
RAPID CITY, S.D. — A federal bankruptcy judge cleared the way Wednesday for two Rapid City apartment complexes, Star Village and Aspen Park, to be sold at auction, setting up a final sale hearing for November 3 even as a separate, competing deal to refinance the properties remains in play. Judge Mindy A. Mora of…
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Star Village Faces October Auction – If a Last Minute Deal Doesn’t Beat the Clock First
Rapid City SD – A joint motion now pending before a federal bankruptcy judge asks the court to send Star Village and Aspen Park to online auction in late October — but whether that auction ever happens may be decided a month earlier, and in a very different way. Merchants Bank of Indiana (MBI) and…
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Tzadik’s Bankruptcy Is Closed. Rapid City’s Bill is Still Open
As the Florida-based landlord quietly exits Chapter 11, the city is left fronting over $125,000 for emergency demolitions while fighting to recoup half a million in unpaid utilities. Rapid City SD – Tzadik Management’s Chapter 11 bankruptcy closed quietly on June 26 — the same week the city, not the company, was still footing the…
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Accountability is a Funny Thing: Tzadik Brought a Lobbyist to a Deadline It Already Missed
RepostRapid City SD- Nine days after the City of Rapid City signed three contracts to demolish the condemned garages at Star Village, the property’s owner tried to muscle back into a process it had already forfeited — filing its own demolition permits, only 18 of 28 of them, only after the city had already moved…
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Public Works Agenda Roundup For 7/14: Star Village Demolitions, A Contractor Lien, A Dropped Exception, and A Park Moves Forward
Rapid City SD- The City of Rapid City is spending at least $133,500 to demolish 28 detached garages in the Star Village neighborhood after owner Tzadik Rapid City Portfolio I failed to meet two separate city-ordered demolition deadlines — November 13, 2025, and February 20, 2026. The city’s own agenda language describes the structures as…