Farbman Group Appointed Receiver for Over 800,000 Square Feet of Midwest Properties
Farbman Group has announced the temporary receivership of six commercial and residential properties across the Midwest, collectively totaling more than 800,000 square feet. The properties include four located in Southeast Michigan, one in Iowa, and one in Chicago.
In Novi, Michigan, two properties are part of the receivership. The first is a 30,884-square-foot speculative medical office building currently under construction. The second is a 37,260-square-foot multi-tenant mixed-use facility.
Additional appointments in Southeast Michigan include The Park at River Woods in Ypsilanti, a 168-unit multifamily property at 815-855 Green Road; and the Laurel Park Office Center in Livonia, a 356,448-square-foot multi-tenant office building and theater.
Outside of Michigan, Farbman Group was named receiver for two more properties. In Chicago, the group is overseeing 1600 Western, a 252,876-square-foot multi-tenant industrial building located at 2442 and 2444 W. 16th Street. In Des Moines, Iowa, receivership includes Windsor Terrace Apartments, a 119,039-square-foot multifamily residential property.
The appointments mark Farbman Group’s continued expansion of its receivership and property management footprint throughout the Midwest.
