News
QUIET IN BUCKHEAD
April 13, 2010
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This morning, we snapped Tower Place 200 (with taller cousin Tower Place 100 in back) as we pondered its future. Late last year, CWCapital, the 14-story tower's special servicer, acquired it at foreclosure for $32 million, or $132 PSF. That's a nice discount off the $50.5 million loan. In better times, Tower Place set the standard when it was one of the first Buckhead buildings to sell for close to $200 PSF in December 2000. These days, things are awfully quiet.PM Realty Group was appointed as receiver in October but has kept a low profile since. We'll keep an eye on this one. It's likely to hit the investment sales market soon. |
