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AmTrust: Harbor Group to buy Cleveland property for $8.15 million
By Lisa Kerner
Charlotte, N.C., June 22 - AmTrust Financial Corp. will sell its Cleveland parking garage property to stalking horse bidder Harbor Group International LLC for $8.15 million, according to an attorney familiar with the case.
Harbor Group was the high bidder at the auction held on June 21, which was brokered by Hilco Real Estate, LLC.
Originally Harbor Group proposed buying the property at auction for $7.5 million.
The sale hearing is set for June 23.
AmTrust Financial is the Cleveland-based holding company for AmTrust Bank. The company filed for bankruptcy on Nov. 30, 2009. Its Chapter 11 case number is 09-21323.
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