The Real Deal Miami

National market report

Commercial and residential real estate news briefs from the most active U.S. markets
October 06, 2009 03:50PM

From the New York October issue: A downtown Atlanta office building housing a Department of Housing and
Urban Development office sold for $7 million at a foreclosure auction
in early September, the Atlanta Journal-Constitution reported. Richard
Bowers & Company, the commercial real estate firm that controlled
the Five Points Plaza building, had to sell it at auction when an
attempt to refinance failed. A $13.4 million loan on the building came
due in July. The lender, an REMIC trust, placed the winning bid at the
auction. HUD is the only tenant of the 17-story building.
Compiled by Sara Polsky