Bank Seeks Sheriff Sale for Mission Gateway Site
The requested sale could unlock the site after 20 years of vacancy and millions in unpaid debt.
Updated on Oct. 28, 2026 in Commercial
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Metropolitan Bank has requested a sheriff sale for the long-vacant Mission Gateway site following a $46.24 million loan default by owner Aryeh Realty LLC. This action follows the owner's failure to meet an October 16 court-ordered payment deadline for debts including unpaid property taxes.
Why it matters
The requested foreclosure could finally clear a path for the redevelopment of the property, which has sat empty for two decades. Resolution of the site's financial liabilities is a necessary step for the City of Mission to proceed with its recent development agreement with the R.H. Johnson Company.
The property site faces a $46.24 million judgment after sitting empty for 20 years. Records from December 2025 indicated that $1.5 million in property taxes remain outstanding on the land.
The players
Metropolitan Bank
A financial institution that provides commercial lending services and acts as a creditor in real estate foreclosures.
Aryeh Realty LLC
The New York City-based property owner currently in default on a $46.24 million loan.
R.H. Johnson Company
A developer that recently signed a city agreement to potentially acquire and transform the former Mission Mall site.
City of Mission
A municipal government body that manages local zoning and development agreements for property within its jurisdiction.
The details
After Aryeh Realty LLC failed to pay the court-ordered judgment by the October 16 deadline, Metropolitan Bank moved to initiate a sheriff sale. This process allows the creditor to recover funds by auctioning the property to satisfy the unpaid debt. The sale process is handled through the Johnson County Clerk of the District Court to settle claims against the current owner.
Timeline
December 2025: Records showed $1.5 million in property taxes owed on the site.
October 2, 2026: A judge ordered a $46.24 million judgment against Aryeh Realty LLC.
October 16, 2026: The deadline for the owners to pay their debts passed.
October 26, 2026: Metropolitan Bank requested a sheriff sale for the site.
October 28, 2026: The court had not yet responded to the bank's request.
Money Landscape
The move to auction the Mission Gateway site marks a significant shift in a property status that has remained stagnant for 20 years. This legal action follows the standard path for resolving debt when commercial property owners default on multi-million dollar loan obligations.
Local property owners should note that this auction process is a reminder of the tax and debt liabilities associated with vacant commercial parcels. Residents interested in the area’s economic future should monitor court filings for updates on whether the sheriff sale proceeds, as this directly affects the viability of the planned R.H. Johnson Company development.
The takeaway
The potential sale of the long-vacant Gateway site represents a move toward resolving decades of financial liability for the property. Interested parties can monitor court dockets for news of a sale date, which would signal the start of the next phase for the site's redevelopment.
Further reading
For more on the status of local projects, see Commercial.
More information
For more information on the legal process, visit the Johnson County sheriff foreclosure sales portal.
Source note: This article includes information reported by Kctv5.
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