(Plain Dealer)
Severance Town Center, a prominent retail property in Cleveland Heights, is the subject of a foreclosure lawsuit filed in Cuyahoga County.
On July 1, a lender asked to foreclose on the troubled shopping center, after the property’s out-of-state owner failed to repay the balance on a $43 million mortgage. Now, the litigation is working its way through Cuyahoga County Common Pleas Court, where it’s possible that a judge might appoint an outside expert — called a receiver — to manage the 600,000-square-foot complex.
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