Shelbourne Global Solutions' Hartford office building faces foreclosure by Webster Bank over a $38M loan and $1.3M in unpaid taxes.
Hartford's Metro Center office building, owned by Shelbourne Global Solutions, risks bank control due to foreclosure proceedings initiated by Webster Bank over a $38M loan and $1.3M in unpaid taxes. Shelbourne, facing difficulties due to remote work trends, tough financing markets, and inflation, has reported a 90% occupancy rate at 350 Church St. Despite this, the bank has requested a receiver to take over building operations.
August 26, 2024
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