Report: Atlanta's tallest building faces ‘imminent default'
By Rachel Tobin
The Atlanta Journal-Constitution
11:10 a.m. Thursday, February 10, 2011Atlanta's tallest building, the 55-story Bank of America Plaza, faces "imminent default," according to a Fitch Ratings report issued Wednesday.
The Fitch report says there is a balance of $363 million on the loan for the building. The report said the loan, held by Wells Fargo, has been transferred to "special servicing." Special servicers are companies with processes to deal with loans that require unusual attention, for example, that currently are in or about to go into default.
http://www.ajc.com/business/report-atlantas-tallest-building-833928.html