One of the most recognizable buildings in the Minneapolis skyline is at risk of foreclosure after its owner defaulted on a mortgage.
Deutsche Bank is suing the Foshay Tower’s owner, alleging that WMN Foshay LP failed to pay off the $51 million mortgage by its maturity date last May, and that it owes more than $40 million.
The German bank filed the lawsuit last week in Hennepin County District Court, acting as a trustee acting on behalf of bondholders who invested in an affiliated commercial mortgage-backed security…