Kelemen defaults on loan tied to Atrium in Irvine, owes $100M
The Kelemen Company’s Atrium faces foreclosure after a loan default. Tibor Kelemen’s outfit defaulted on an $80 million loan on two 10-story office towers connected by a glass atrium in Orange County. It owes its lender, Claros Mortgage Trust, about $106 million, according to a notice of default and election to sell dated late-June. Kelemen, founder and CEO, said: “We are working on a solution with our lender.” Claros Mortgage Trust did not respond to a request for comment. Eight years ago, Kelemen purchased the offices in Irvine from Barings for about $107 million and later completed a multimillion-dollar renovation. […]This article originally appeared on The Real Deal. Click here to read the full story.
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