CityNorth foreclosure sale postponed again

The CityNorth foreclosure sale scheduled for Wednesday has been postponed a second time. The sale has been rescheduled for June 16. It originally was scheduled to occur March 31. Capmark Financial filed the foreclosure against the owners of CityNorth's High Street in late December. The owners, the Klutznick Co. and Related Urban Development, owe more than $290 million to Capmark. The foreclosure is believed to be the largest commercial foreclosure in state history. As before, no reason was given for the postponement. Elizabeth Hibbs of Quarles and Brady, the law firm that is handling the sale, said Capmark can postpone the sale indefinitely.

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