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FFZ Holdings, a Buffalo-based real estate investor, identified itself as the new owner of the Cargill Pool Grain Elevator on Thursday, one day after anonymously acquiring the structure at auction for $475,000.

FFZ Holdings will team up with Savarino Companies, a Buffalo development company, to develop the grain elevator parcel.

The companies are involved in several projects together, including the redevelopment of the former F.N. Burt Co. building at 500 Seneca St., a housing development planned for 441 Ohio St. and in the Cobblestone District.