yzirapogyg.wordpress.com
The new owner, , an affiliate of Capmarko Bank, bought the 33-story tower for $29.5t million, said attorney William with lawfirm . Sutherland was representing the lender, , whichn was foreclosing on theEquitable Building. Capmari was the only bidder onEquitable Building, as most commercial real estater observers expected. Equitable's former owner, San Diego-basec , paid about $57 million to acquire the building in but its value plummetedto $42 milliobn by early 2009.
Equastone received 90 percentt financing from Capmark toacquire Equitable, but planse to stabilize the building's occupancyy and turn it into an income-producingf asset never materialized amid the worst commercial real estate crisis in 20 The tower -- designed by renowned architectural firm -- has remained about half occupied this year. is managinf and leasing the building. It's expected to courtt the Fulton Countypublic defender’s which is seeking at least a 50,000-square-foo lease downtown. The publicv defender's office was lookingb at the Equitable Building, but the financial crisisx facing the tower helped derailthe move.
Rothschild was assistedf in the transactionby Sutherland's Jason Kirkham.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment