According to court documents sifted through by the SF Business Times, "the Lembi subsidiary Trophy Properties has been in default on payments since Feb. 10 on two loans, one for $116.1 million and one for $5.2 million.
Interest accrued and outstanding from Jan. 9 to March 2 amounted to $1.8 million, and interest on the unpaid balance is accruing at a rate of $50,600 a day," Not pretty... SocketSite has a list of the 23 properties.
Copyright CURBS
