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Clermont Hotel foreclosure one week away

Inman Park Properties has lost buildings to foreclosure that were occupied

Got a few million to spare — in cash? Then you could be Blondie's new landlord!

Next Tuesday, the Clermont Hotel and four other chunks of real estate owned by the troubled Inman Park Properties are scheduled to be auctioned off on the courthouse steps. John Mansour, a local lawyer representing Fairway Capital, the New York-based lender that's foreclosing on the Clermont, told the AJC early last week that his client was negotiating with IPP founder Jeff Notrica. On Friday, however, Mansour told CL he didn't have an update.

Based on recent experience, the outlook isn't good. In fact, it's pretty dismal.

Last week, I called Danny Glusman, sales manager for Inman Park Properties, in an effort to confirm which of the company's many parcels in foreclosure had ended up back in the lenders' hands. I picked addresses at random from a long list I'd compiled by searching through public foreclosure notices, but Glusman was able to indentify only one — the old Hilan Theatre in Virginia-Highland —that had been spared from foreclosure by a last-minute deal with the lender.