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Speculating and Opinionating

Who bought the Cadillac Tower, a 347,000-square-foot office building just off Campus Martius park? We don't know. Twenty-nine properties with defaulted loans went on the auction block from LNR Property LLC last week, including one bought by Crain's Communications, the Brewery Park II. Crain's scored the $21 million mortgage for $9.5 million in the auction. They suggest that the Cadillac Tower might get condo-ified, which is becoming par for the course in that hood. At this point, they're betting Michigan real estate mogul Dan Gilbert was not the buyer, but that it might be a Texas-based investor who expressed recent interest. [Crain's]