Darnell and Associates was the owner of The Collegian, an office building on Maynard Street.
In the news
The building went through foreclosure this spring by Fifth Third, which took possession from Lorne Darnell. At that time, $8.9 million was owed among three loans. Fritz said he is an investor in Darnell's businesses, including LogiCorp, and a friend as well. "I'd invested in several of his companies, and he needed a change in the building," Fritz said. "I told him I'd buy it from him ... he needed income and capital, and he couldn't afford to buy it from the bank."
- Ann Arbor's The Collegian building enters foreclosure as second owner faces financial pressures, Ann Arbor Business Review, March 2009
County records show that the property has a total of $8.9 million in debt settlement leads in three different loans. The owner is Lorne J. Darnell and Associates, which purchased the building from the original developer, Jeffrey Spoon, in 2005 for $6.45 million, city records show.
