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Akin Gump Represents Axonic Capital in UCC Mezzanine Foreclosure of Prominent Ohio-based Complex

January 13, 2023

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(New York) – Akin Gump represented Axonic Capital LLC in its foreclosure and purchase of the Flats at East Bank apartment building in downtown Cleveland, Ohio. Axonic placed the sole bid at a Uniform Commercial Code mezzanine foreclosure auction in New York on Thursday, January 12.

Pursuant to the sale, Axonic, a mezzanine lender on the high profile waterfront complex, will own a 100 percent stake in the limited liability company that owns the Flats at East Bank.

The Akin Gump team representing Axonic was led by investment funds litigation partner Uri Itkin and included Jennifer Poon, Ross Karlik and John Hunt.

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East.

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