The Market Common, a retail and residential center in Myrtle Beach, was sold Friday to BEI - Beach LLC, according to real estate law firm Nexsen Pruett.BEI - Beach LLC purchased Market Common from LUK-MB1, LLC, through Gregory T. Maloney, who was acting as receiver in the sale.
JPMorgan Chase Bank filed suit in May 2010 to foreclose its $100+ million mortgage with The Market Common.
JPMorgan claimed LUK-MB1, LLC failed to "make payments when due," according to the foreclosure suit filed in Horry County.
The Market Common opened in 2008 and sits on part of the former Myrtle Beach Air Force Base.
