Lenders have approached the court to appoint a receiver to oversee The Atrium, following landlord Jamison's default on a $21.5 million loan tied to the property.
A spokesperson for Jamison noted that while a loan modification is still a potential route, negotiating with the servicer has taken longer due to current economic conditions.
Jamison acquired The Atrium office complex in 2002 for $20.8 million but saw occupancy drop to 42 percent by 2022, leading to negative cash flow.
Despite the decline, a few tenants remain, including Sinai Medical Lab and Keosian Law, amidst the ongoing challenges faced by the property.
Collection
[
|
...
]