A long-struggling Detroit office tower complex is now in receivership

A large office complex straddling downtown Detroit and Corktown is now under the control of a receiver.

Southfield-based Farbman Group was tapped earlier this month to oversee the almost entirely vacant Detroit Office Plaza — sometimes referred to as the Executive Office Plaza — after an entity tied to Samir and Mary Danou defaulted on a $10.3 million loan on the property from Orange County, Calif., lender M360 Advisors, according to Wayne County Circuit Court records.
Farbman Group is tasked with managing and marketing the complex, as well as teeing it up for a sale that would have to be approved by the court.
"Everybody's pretty much getting along to try and get the thing to move [[sell)," Bernstein said. "The timeframe [[for a sale) really depends upon what the market will bear and I don't anticipate any battles over this."