CityNorth marches along under new ownership group

Since July 1 when CityNorth's High Street was repossessed by a group of lenders led by Capmark Financial, little has changed at the troubled northeast Phoenix development. The only thing that has changed is the identity of the owner. Related Urban, manager of the property, has announced that the property has been acquired by City North HH LLC, an entity associated with the original lender. City North HH LLC has retained Related to continue to oversee all aspects of the center including operations, development and leasing of office, retail and residential space. Related Vice President Najla Kayyem said the company "is looking forward to continuing to enhance the viability and activity of the property by supporting the existing merchants, restaurants and tenants of the project."

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