After claiming victory in the David Stott and Free Press Building auctions, Shanghai's DDI Group has extended its winning streak to three. According to Mark Clark, owner of the Clark Lofts in downtown Detroit, DDI Group won the building when it hit the auction block in November. It's still a mystery how much cash DDI threw down to win the auction, which opened bidding at $1.1M. The sale is expected to close by the end of the year.
We're still waiting to hear back from DDI, but they reportedly plan on starting up huge renovations at the Stott and Free Press buildings in the near future. Will the 32,000-square-foot Clark Lofts Building join the party?
· The Clark Lofts Building Joins Downtown's Auction Action [Curbed]