Clipped From Detroit Free Press
In 1985, with costs mounting and after successive refinancings of the project, they engaged in a complex arrangement with Oakland County developer developer Robert Sosnick and his partners. partners. Under the deal, the Strohs in effect sold an interest in the 300 River Place building to Sosnick's partnership and accepted $66 million in mortgage funds in return, the money going for construction costs and other expenses. The agreement committed Stroh Brewery Co. to a long-term long-term long-term lease at the 300 River Place building. The 300 River Place building is the centerpiece of the development, home to the Rat tlesnake restaurant and as much space as Detroit's newest skyscraper, 'the 25-story 25-story 25-story Madden Building at 150 W. Jefferson.