Canadians Buy U.S. Landmark in Foreclosure Auction

Krisanne Alcantara



With the U.S. government's push to attract more foreign real estate investors, it comes as no surprise that they are swiftly snapping up some of the country's best properties -- including a National Historic Landmark.

Canadian hotel and resort company, Skyline International Development Inc., has just landed the historic Arcade in downtown Cleveland for a little under $7.7 million, Cleveland.com reports. Skyline snapped up the landmark property at the minimum bidding price during a foreclosure auction today.