News
FORCED TO SELL
May 18, 2011
| It's a prime corner on the famed downtown stretch of Ponce de Leon. It was to be home to a 1.4M SF mixed-use development. And maybe one day it can be for the next buyer. | |||
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| Bull Realty's Daniel Latshaw has been tapped to sell 2.5 acres at the corner of Ponce de Leon and North Ave—including two office buildings, one (pictured here) that's vacant and attached to the St. Paul Presbyterian church. The site has a $10.4M loan originated in 2007 from the First National Bank of Barnesville, which was taken over by the FDIC. The current loan holder—United Bank of Zebulon—is forcing a short sale from the owner, an attorney in Montgomery, according to Databank. Daniel says with apartments hot and urban retail reviving, there's an opportunity for a developer to take advantage of the depressed pricing. Offers are expected by June 3. | |||
