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Axonic Capital LLC, a mezzanine lender on the waterfront property, entered the sole bid at a Uniform Commercial Code foreclosure auction in New York on Thursday, Jan. 12.
One of two buildings at the hotel and conference center in Aurora will be converted to for-sale condominiums with two and three bedrooms. The switch is designed to respond to recent and long-term trends in the hospitality business and the suburb.
The Wolstein Group is largely responsible for the revitalization of The East Bank of The Flats in Cleveland.