UPDATE: Sold for $12,200,000.

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Friedman Integrated Real Estate Solutions LLC has confirmed what’s been a pretty poorly kept secret for weeks: The Albert Kahn Building and the Fisher Building are heading to an online auction this summer.
The auction June 22 to 24 of the iconic office buildings in the New Center area includes more than 2,000 parking spaces spread out over two parking decks and three surface parking lots, according to the Farmington Hills-based company.
There’s likely to be a high level of interest in the 635,000-square-foot Fisher and 290,000-square-foot Kahn, built in 1928 and 1931, respectively.
On that list of possible buyers are Packard Plant owner Fernando Palazuelo and Dan Gilbert, the founder and chairman of Quicken Loans Inc. and Rock Ventures LLC.
Palazuelo told me during a February interview that he was going to make an offer on them, and Gilbert is under contract to buy a parking deck directly east of the Kahn.
The Fisher and Kahn buildings fell into default on a $27 million mortgage and Miami-based special servicer LNR Property Inc. took title on them, contracting with Friedmanfor management and leasing.
The registered agent of the previous owner, FK Acquisition LLC, is Farbman Group CEO Andy Farbman.
Southfield-based Farbman Group had handled property management and leasing prior to Friedman.
Barry Swatsenbarg, national director of investment and loan sale advisory services, and Rich Deptula, senior vice president of investment and loan sale advisory services, are representing LNR.
A minimum bid has not yet been set for the auction, according to Swatsenbarg.


http://www.crainsdetroit.com/article...kahn-buildings