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.
Categories
Recent Posts
Mumbai apartment designed to feel like "arriving at the edge of a still body of water"
Major international ad agency moves to El Segundo
LA City Council taps voters to decide if Palisades is exempt from Measure ULA
Brea residents push back on city’s deal for developer’s planned Costco
ELLE DECORANDUM: Five New Design Discoveries
Former L.A. Dodgers Owner Peter O’Malley’s Malibu Estate Sold for $55 Million
Aubrey Plaza finds buyer for Los Feliz home after year of price cuts, relisting
Hudson Pacific Properties posts $105M loss, lands extension on billion-dollar Hollywood maturity
On the Couch with Valentina Akerman
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
26895 Aliso Creek Rd, B-603, Aliso Viejo, California, 92656, USA