CLEVELAND, Ohio— A federal judge on Friday appointed a receiver to take over operations of the Centennial building in downtown Cleveland. The move is another blow to owner Millennia Cos., the embattled company that faces foreclosure of two other downtown buildings.
U.S. District Judge Charles Fleming granted Deutsche Bank’s request for the receiver, citing Millennia’s prolonged default. Millennia owes $33.4 million in principal, interest and fees for its loan to rehab the 22-story building.
Fleming appointed John Lane and Inglewood Associates to handle the day-to-day operations of the vacant building…