November 6, 2009

Lender takes back part of 5th Ave. development site

A developer who planned a two-tower project along Fifth Avenue across from the Westin Seattle has lost part of the site in foreclosure.

Lender G4 Capital Partners of New York has taken title to about half the property on which New York developer Multi Capital Group had planned two 46-story towers called Heron and Pagoda, public records show.

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