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Farbman Group Appointed Receiver of Midwest-Based Properties
Farbman Group announced the temporary assignment of six receiverships throughout the Midwest. Totaling more than 800,000 square feet, the four properties are located in Southeast Michigan, one in Iowa and one in Chicago.
Two of the properties in receivership are located in Novi, Michigan. The first is a 30,884-square-foot speculative medical office building currently under construction, and the second is a 37,260-square-foot multi-tenant mixed-use property.
Farbman Group was also appointed receiver to The Park at River Woods in Ypsilanti and Laurel Park Office Center in Livonia. The Park at River Woods is a 168-unit multifamily property located at 815-855 Green Road. Laurel Park Office Center is a 356,448-square-foot multi-tenant office building and theater.
The two final receivership appointments are located in Illinois and Iowa. 1600 Western is a 252,876-square-foot multi-tenant industrial building located at 2442 and 2444 W. 16th St. in Chicago, and the Windsor Terrace Apartments is a 119,039-square-foot multifamily property in Des Moines.
