EMILY:..IT’S A NAME THAT’S BEEN BEHIND SEVERAL MASSIVE DEVELOPMENTS IN GRAND RAPIDS. 616 LOFTS.TODAY — WE’VE LEARNED THE COMPANY HAS FILED FOR BANKRUPTCY. 3 24 HOUR NEWS 8’S LYNSEY MUKOMEL IS AT THE LIVE DESK WITH THE STORY NEW THIS NOON. 3 LYNSEY:..616 LOFTS HAS FILEF FOR BANKRUPTCY, BUT ITS NOT YET CLEAR WHAT IMPACT THE MOVE WILL HAVE…. 3 616 LOFTS DEVELOPED SEVEN MIXED-USED RESIDENTIAL PROPERTIES AROUND GRAND RAPIDS IN RECENT YEARS. ACCORDING TO THE FEDERAL COURT FILING, THE COMPANY HAS ASSETS OF LESS THAN 50-GRAND, AND OWES FROM 1 TO 10 MILLION DOLLARS.THE FILING ALSO SAYS 616 LOFTS WILL NOT HAVE ANY FUNDS LEFT TO PAY ITS SEVERAL DOZEN CREDITORS. 3 THE FIRM’S PROPERTY MANAGEMENT PROPERTY THE FIRM’S 3 CREDITORS. 3 THE FIRM’S PROPERTY MANAGEMENT COMPANY SAYS THE FILING WILL HAVE LITTLE IMPACT.KMG PRESTIGE AS SAYING THAT 616 WAS JUST AN ENTITY THAT DEVELOPED AND MANAGED ASSETS, AND THAT NO ONE WHO OWNS THE ASSETS OR LIVES IN ANY OF THEM WILL BE AFFECTED BY THE BANKRUPTCY. 3 LYNSEY:..WE HAVE A CREW WORKING TO LEARN MORE DETAILS ON THE BANKRUPTCY FILING. WE’LL KEEP YOU UPDATED.