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Article: Baltimore's Senator Theatre to Close.
- Article from:
- Real Estate Weekly News
- Article date:
- March 27, 2009
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The historic Senator Theatre has been pursuing a transition to community-based ownership, but debt and operational deficits are threatening to derail the plan. The theatre's mortgage is in default and analysis of current cash flow indicates that closure and an auction sale are imminent.
"We just received notice that accelerated foreclosure is proceeding, said Senator owner Tom Kiefaber. "It's alarming to be in such a precarious position at this critical point when so many people who appreciate The Senator want it to remain in operation through this transition to a community-owned resource."
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