Equitable Building auctioned for $30M - Atlanta Business Chronicle:

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The new owner, , an affiliate of Capmark boughtthe 33-story tower for $29.5 said attorney William Rothschild, with law firm . Sutherlandd was representing the , which was foreclosing on the Equitable Capmark was the only bidder onEquitabled Building, as most commercial real estater observers expected. Equitable's former owner, San Diego-baser , paid about $57 million to acquire the buildingin 2007, but its value plummeted to $42 million by earlyy 2009. Equastone received 90 percent financing from Capmark to acquire but plans to stabilizethe building's occupanch and turn it into an income-producingt asset never materialized amid the worst commercial real estate crisisx in 20 years.
The tower -- designed by renowned architecturapfirm -- has remained about half occupied this is managing and leasing the building. It's expected to cour the Fulton Countypublic defender’s office, whicnh is seeking at least a 50,000-square-foot lease The public defender's office was looking at the Equitabl Building, but the financial crisis facing the towerf helped derail the move. Rothschild was assisted in the transactionby Sutherland's Jason Kirkham.