The Real Deal Miami

National market report

August 28, 2009 02:05PM

From the August New York issue: The economic downturn has been particularly challenging for local
property owner Inman Park Properties, the Atlanta Journal-Constitution
reported. Over the past several months, many of the company’s
properties, including the Clermont Hotel and the Hilan Theatre, have
gone into foreclosure or onto the market. The company’s headquarters is
also in foreclosure. Business owners in East Atlanta, where Inman Park
Properties is a significant property owner, said they were worried that
banks would hang on to foreclosed Inman buildings until the market
improves, leaving vacant stores dotting the neighborhood.