A new lawsuit filed in Wayne County Probate Court is claiming that one of the investments the former trustee of the Gretchen C. Valade Irrevocable Living Trust made in a stalled Detroit hotel redevelopment was not on the up and up.
Oversight continues until it is sold, foreclosed or redeemed
Fannie Mae had sought receivership in late April
Kirk Pinho/Crain s Detroit Business
A federal judge has appointed Ronald Glass to oversee operations of the Jeffersonian Houze high-rise on the Detroit River.
Control of the Jeffersonian Houze high-rise apartment building on the east Detroit riverfront is now out of its owners hands.
But whether you call Ronald Glass of B. Riley Financial Inc. the receiver or the person to oversee the 410-unit building at 9000 E. Jefferson Ave., you can t say suburban real estate investors Joe Barbat or Arie Leibovitz are in charge of it anymore at least for now.