Tempe Centerpoint's auction yields no bids

The Centerpoint condominium towers in downtown Tempe failed to sell at a foreclosure auction Tuesday, forcing the lender, ML Manager LLC, to take over the property. Peoria-based ML Manager, the successor to real-estate lender Mortgages Ltd., asked a minimum bid of $8 million to sell the property at the foreclosure auction. Because there were no bidders, ML Manager now owns the property. "Our plan is to market the towers to a buyer who will finish them," said Mark Winkleman, chief operating officer for ML Manager.

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