The Plaza at PPL Center in Allentown, Pa., home to Talen Energy, could soon be headed for the commercial mortgage bond equivalent of foreclosure, a move that would open the door to new owners who could offer lower, more competitive rents. The current owner, a group called The Plaza at 835 W. Hamilton St., which purchased the property for $ 83.5 million in 2007, missed a $ 67 million balloon payment on Dec. 1, sending the loan into default.

Foreclosure News



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