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Foreclosure Blues

Ghirardelli Square, the 117-year old building that's on the National Register of Historic Places, is experiencing foreclosure woes. The shops at the square are being taken back by the lender. The bank isn't spilling the beans about why it's foreclosing on the property, but in a "carefully worded statement" to the San Francisco Business Times the bank "is prevent JMA from exercising two extensions that remain on the $55 million loan." [SF Business Times]