Did you hear the Hot Springs Health & Fitness is facing a foreclosure lawsuit?
Lakeland West Capital XXI LLC said the 55,180-SF gym defaulted on loans and owes $5.1 million, according to a lawsuit filed last month in U.S. District Court in Hot Springs.
Also named as defendants are Grady and Dora Bean, who personally guaranteed the loans of HSHF Properties LLC.
Lakeland West said in the suit that it has “protectable interest” in the gym and asked that a federal judge appoint a receiver. Lakeland is represented by attorneys Judy Simmons Henry and Jake Fair of the Little Rock law firm Wright Lindsey & Jennings.
“HSHF and Health & Fitness do not dispute that they have failed, among other things, to make payments to Lakeland as required by the” loan documents, Fair said in a court document.
As of Thursday afternoon, a ruling on the receiver had not been made.
Grady Bean did not immediately return a call for comment. And an employee at the gym said no one else was available to comment on the suit.
The gym touts on its website that it was “voted one of the top three health clubs in Arkansas,” but doesn’t say who did the voting. It offers more than 40 group exercise classes, aquatic programs, basketball, racquetball, tennis, and “even an on-site smoothie bar,” the website said.