Fisher Building
The iconic Fisher and Albert Kahn buildings in Detroit's New Center area are among the high-profile office properties in the region that are in mortgage default, Crain's Detroit Business reports.
Kirk Pinho of Crain's reports that the two buildings could get new owners or the current owners could work out a deal to hold on to them.
Crain's writes:
According to commercial mortgage-backed securities data from Bloomberg LP, entities of FK Acquisition LLC are in default on the $27 million mortgage on the New Center buildings. The registered agent for FK Acquisition is Southfield-based Farbman Group CEO Andy Farbman; Farbman Group handles property management and leasing.
Negotiations with Farbman and the foreclosure process will continue until a resolution is reached, according to notations on the loan reported by Bloomberg earlier this month.
