Receiver appointed for Downtown office complex

The North Point office complex in Downtown Cleveland includes 901 Lakeside
Ave. at left, 1001 Lakeside at right, and a parking garage behind them with its
primary entrance off East 9th Street in the distance at far left (Google).
CLICK IMAGES TO ENLARGE THEM.

On Friday, Judge Christopher Boyko at the U.S. District Court for the Northern District of Ohio ordered the North Point office complex in Downtown Cleveland be placed in the hands of a receiver to manage the property and, more specifically, to pay its creditors. The request was made earlier in the week by Wells Fargo Bank, as trustee for the benefit of the registered holders of GS Mortgage Securities Corp.’s distressed loan collateralized by the property.

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