Atlanta's 55-story Bank of America Plaza, the tallest tower in the Southeast, is set to be sold at an open outcry auction on the steps of the Fulton County Courthouse tomorrow after landlord BentleyForbes missed mortgage payments. It bought the skyscraper in 2006 for $436 million from Bank of America Corp. and Cousins Properties Inc. in the city's biggest property deal
Speaking of dark space...
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Will probably end up as REO. Interesting to see classes B and E on a bidlist today. Shine em up!
There has been a strong bid for credit today and yesterday. I put two or three credit IOs out yesterday - the bids were about 1.5x to 1.75x what I think they were worth. Also seen a lot of the "bad" AJs bid up recently.
It went REO with a $250mm bid from the Trust/LNR.
http://www.ajc.com/business/bank-of-america-plaza-1336921.html
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