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Tuesday, July 15, 2014

Orpheum office building owners sue firm associated with the Minnesota Guys

By Dan Voorhis
The Wichita Eagle

The Orpheum Office Building Association is suing an entity run by David Lundberg, one of the owners of Real Development and one of the Minnesota investors who bought the building more than five years ago.

The association claims that Broadway at First No. 4 LLC owes the association well over $100,000 because it stopped paying dues in January 2010.

Lundberg is listed at the resident agent for Broadway at First No. 4.

Lundberg and partner Michael Elzufon came to Wichita in 2004 and tried to redevelop a sizable portfolio of aging downtown office buildings. Early on they were successful in spinning off some buildings as office condominiums, selling the floors mostly to California investors. But they have since run into cash flow problems with their other projects.

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