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04/11/10
Centerpoint’s auction yields no bids; lender forced to take over project
Filed under: General, Real Estate
Posted by: Lillian Wong @ 5:55 pm

The Centerpoint condominium towers in downtown Tempe failed to sell at a foreclosure auction Tuesday, forcing the lender, ML Manager LLC, to take over the property.

Peoria-based ML Manager, the successor to real-estate lender Mortgages Ltd., asked a minimum bid of $8 million to sell the property at the foreclosure auction. Because there were no bidders, ML Manager now owns the property.  more…


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