Update: Patricia Kluge facing foreclosure on Virginia estate
Virginia socialite Patricia Kluge is facing foreclosure of her mammoth Charlottesville estate, reports the Associated Press. The entrepreneur ex-wife of the late billionaire John Kluge obtained the 25,000-square-foot Albemarle House in their divorce settlement years ago. Banks foreclosed last month on a winery and real-estate development that she owns with her new husband, William Moses; now Bank of America has filed suit claiming that she defaulted on three loans worth $23 million on the estate. The couple put the home on the market in 2009 for $100 million, but the price is now listed at $24 million.
The Reliable Source
| January 20, 2011; 6:33 PM ET
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