  The Galactic Center black hole Sgr A* shows significant variability and
flares in the submillimeter, infrared, and X-ray wavelengths. Owing to its
exquisite resolution in the IR bands, the GRAVITY experiment for the first time
spatially resolved the locations of three flares and showed that a bright
region moves in ellipse-like trajectories close to but offset from the black
hole over the course of each event. We present a model for plasmoids that form
during reconnection events and orbit in the coronal region around a black hole
to explain these observations. We utilize general-relativistic radiative
transfer calculations that include effects from finite light travel time,
plasmoid motion, particle acceleration, and synchrotron cooling and obtain a
rich structure in the flare lightcurves. This model can naturally account for
the observed motion of the bright regions observed by the GRAVITY experiment
and the offset between the center of the centroid motion and the position of
the black hole. It also explains why some flares may be double-peaked while
others have only a single peak and uncovers a correlation between the structure
in the lightcurve and the location of the flare. Finally, we make predictions
for future observations of flares from the inner accretion flow of Sgr A* that
will provide a test of this model.
