Metropolitan Bank Requests Mission Gateway Sheriff Sale
A bank seeks a foreclosure sale for the long-vacant Mission Gateway property after the owner defaulted on a multi-million dollar loan.
Updated on Oct. 28, 2026 in Commercial
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Metropolitan Bank has filed a request for a sheriff sale of the Mission Gateway site in Mission. This action follows the failure of Aryeh Realty LLC to pay a court-ordered $46.24 million judgment by an October 16 deadline.
Why it matters
The requested sale targets a property that has remained empty for 20 years, potentially clearing the way for a new development agreement recently established between the city and the R.H. Johnson Company.
The site faces foreclosure following a $46.24 million judgment against its owners and outstanding property tax debts of $1.5 million. The location has remained vacant for 20 years.
The players
Metropolitan Bank
This financial institution is the lead creditor seeking to foreclose on the Mission Gateway site.
Aryeh Realty LLC
This New York City-based real estate firm is the current owner of the property that defaulted on its loan.
R.H. Johnson Company
This firm has entered into a development agreement with the City of Mission to potentially acquire the former Mission Mall site.
The details
The request was submitted to the Johnson County Clerk of the District Court by the bank's legal counsel. The move comes as the city attempts to move forward with plans for the former Mission Mall site through a newly finalized agreement with the R.H. Johnson Company.
Timeline
December 2025: Records indicated $1.5 million in property taxes were 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 settle the debt passed without payment.
October 26, 2026: Metropolitan Bank formally requested a sheriff sale for the property.
October 28, 2026: The court had not yet issued a response to the bank's request.
Culture Shift
The request marks a move to resolve a decades-long vacancy that has hindered urban renewal in the area. This legal step aligns with formal municipal efforts to repurpose defunct commercial land through the established Johnson County sheriff foreclosure sales process.
The shift toward a potential foreclosure could finally lead to the redevelopment of a site that has sat stagnant for two decades. Residents may soon see movement toward the previously announced development plans if the court approves the sale.
The takeaway
The move by Metropolitan Bank represents a critical turning point for a property that has been a focal point of local development discussions for 20 years. Stakeholders and residents should monitor court proceedings to see if the property officially moves toward a new owner.
Further reading
For more background on commercial real estate updates in the area, visit the Mission Commercial section.
More information
Information regarding the judicial process for land auctions can be found on the Johnson County sheriff foreclosure sales portal.
Source note: This article includes information reported by Kctv5.
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