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Owner of apartment complex files bankruptcy to avoid foreclosure

The complex, with 128 units across eight buildings, is located on Maya Lane in Jennings
Credit: Adobe Stock

ST. LOUIS COUNTY, Mo. — The owner of a Jennings apartment complex has filed Chapter 11 bankruptcy, in a bid, its lawyer says, to avoid foreclosure and facilitate a sale of the property or reorganization of debts.

Rolling Hills Apartments LLC made the filing this month in bankruptcy court in St. Louis, listing assets of $3.5 million and liabilities of $3.7 million. The complex, with 128 units across eight buildings, is at 8855-8893 Maya Lane.

Keith Bennett is the company's manager; his late grandfather's trust, Orville G. Wasson Living Trust, is its member, said Bennett's attorney, Rob Eggmann of Carmody MacDonald.

LBCI REO LLC has the biggest claim against Rolling Hills: $2.6 million tied to a deed of trust, court documents say.

Eggmann said he doesn't know who's behind that company, but that the loan was originally with Excel Bank, which was closed by the Missouri Division of Finance in 2012.

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