South Bend, Ind. For better or worse, a couple of iconic local buildings, got new owners Thursday.
A limited liability corporation from Delaware bought the so-called Commerce Center on the East Raceway, at a sheriff's foreclosure sale Thursday morning.
The company called CRE CT 21 Other LLC paid more than $3 million for the deed. The former owner was $3.8 million behind in mortgage payments.
Meantime, the company that financed the purchase of the Waterford Condo-Hotel on State Road 933, now has possession of the building.
Northlight Asset Management paid $11.5 million. The former owner was $21 million behind in mortgage payments.