Shed, Marina Face Foreclosure

Up to 80 percent of The Wharf mixed-use development, including an amphitheatre, in Orange Beach, Ala., may be seized by lender Regions Bank and put up for auction Sept. 13.

The marina and 167 acres that house the 10,000-capacity Amphitheatre At The Wharf will be sold in two separate sales. The marina includes 190 slips and a commercial building that encompasses a dock star and restaurant.

Baldwin County court filings show developers in 2005 borrowed $31.45 million to finance a land purchase and $17.6 million for the marina. It’s not clear how much AIG Baker Shopping Center Properties owes Regions Banks.