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The empty Centerpoint high-rise condominium towers that loom over Tempe, once a symbol of the city’s downtown residential boom, have fallen into foreclosure.

A foreclosure auction date is set for April, according to documents filed on Tuesday with the Maricopa County Recorder’s Office. The property could be sold to the highest bidder.

ML Manager LLC, acting on behalf of a dizzying list of investors, filed foreclosure on the high-rises. Officials for ML Manager placed the unpaid principal of condo developer Tempe Land Co. LLC at $135 million. Tempe Land is a subsidiary of Tempe-based Avenue Communities LLC.

Centerpoint’s foreclosure is the second high-profile Valley development to be foreclosed on in less than two weeks.  more…

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