GRAND RAPIDS, Mich. – A Grand Rapids real estate management company has filed for bankruptcy protection.
Court documents show that 616 Lofts filed for Chapter 7 Bankruptcy on December 31, 2018.
A letter sent to tenants in one their buildings says that 616 Lofts had handed over management responsibilities to another company in August of 2017 and that the name 616 Lofts had only been used for marketing and branding purposes. Current leases and building management is not changing for residents.
Court filings show that 616 Lofts has a debt of over $2.5 million and assets of under $50,000. There are fewer than 50 creditors.