ST. LOUIS — The Mid-America Carpenters Regional Council is suing an apartment developer and his partners, alleging the men haven’t repaid a more than $500,000 loan.
Matthew Masiel, James Moyle and Vince Ebersoldt, through their company 1815 Locust, borrowed $562,740 in 2020 from the now-defunct St. Louis-Kansas City Carpenters Regional Council.
They agreed to a new repayment plan in 2023 — a year after the loan was due — and made two payments before the Chicago-based union organization sued in St. Louis County Circuit Court this week, court documents show.
Steph Kukuljan and other business reporters bring you insights into St. Louis-area real estate and development.
The union alleges it is owed over $616,000, including interest.
Masiel said Friday that he is in communication with the union and that the loan will be refinanced. He and the union remain on good terms, Masiel said.
An attorney for the union did not immediately respond to a request for comment.
People are also reading…
It’s the latest lawsuit from the Chicago-based union organization to clean up the finances of the defunct St. Louis council.
The parent union, the United Brotherhood of Carpenters, dissolved the St. Louis-based regional council without warning in late 2021, ousting leader Al Bond and putting its operations under Chicago’s control.
The United Brotherhood of Carpenters had accused Bond of misappropriating funds and “defrauding” the union. The organization then sued other developers, including Alterra Worldwide and Paul McKee of NorthSide Regeneration, for repayment of loans made under Bond’s tenure.
The loan to 1815 Locust and the partners did not appear on the union’s disclosure forms for 2020 when the loan was originally made.
It wasn’t until 2021 when the Carpenters, under the Chicago branch, included a “new” loan to Masiel and his partners valued at $430,866. Another loan for $132,624 appeared in 2022 disclosure forms.
Jacob Barker of the Post-Dispatch contributed to this report.
A limestone mine collapsed on June 26, leaving a 50 foot deep and 100 foot wide hole in soccer fields at Gordon Moore Park in Alton, Illinois. Video by Allie Schallert, aschallert@post-dispatch.com