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Foreclosure process started on Matrix Corporate Center

The foreclosure process has started for the Matrix Corporate Center.  The 1.2 million square foot office building on Danbury's west side was the subject of court documents filed in Danbury this week.  The Newstimes reports that the owner of the building defaulted on an $85 million loan and the mortgage holder is seeking payment on the outstanding amount. 

 

The building could be sold to a third party, or Deutsche Bank Trust Company Americas could take ownership. 

 

The Matrix Group real estate investment firm bought the building in 2009, but the firm's principal owner died in a car accident at the end of 2015.  The published report says that all parties are looking for an amicable resolution to ensure current tenants will receive uninterrupted services. 

 

The building's largest tenant, Praxair, moved out last year.  The facility is on the former Union Carbide property.

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