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Dive Brief:
Sandy Spring Bank filed for foreclosure in September on Chasen Cos.’ One Calvert Plaza office tower in Baltimore after the developer went into default on a $34 million loan in June, according to the Baltimore Banner.

The developer bought the historic 15-story building for $11.1 million in 2022 with plans to convert it into 173 apartment units, according to Bisnow. Chasen did not respond to Multifamily Dive’s request for comment.

The Banner reported that multiple suppliers, including Patriot Steel Fabrication, a plumbing company, the city of Baltimore and a lighting firm, allege that Chasen owes them money. Additionally, Green Apple Cleaning won a court ruling in July after claiming the developer owed it $22,000.