Iowa City credit union forecloses on 28 properties

An Iowa City credit union has foreclosed on 28 properties owned by a construction company and a partner.

Johnson County Sheriff's Office records show there were $4.3 million in judgment amounts against the properties, which are a mix of houses, apartments and commercial buildings.

The sheriff's office will sell the properties to the highest bidders July 6.

Eastside Investors LLC and Frantz Construction Co. Inc. owned the properties. They were foreclosed by the University of Iowa Community Credit Union.

Company representatives couldn't be reached to comment, and credit union officials didn't return calls.

Rob Phipps, president of the Greater Iowa City Area Home Builders Association, says he's never heard of such a large foreclosure action in the city.