Atlanta Trophy Building in Trouble?

Posted by Daniel Jones on Feb 10, 2011 4:53:00 PM

Report: Atlanta's tallest building faces ‘imminent default'

The Atlanta Journal-Constitution

11:10 a.m. Thursday, February 10, 2011

Atlanta'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
property tax appeals

Subscribe to our A Fair Shake Blog:

How Tax Assessors Use Sales to Value Property
HOW TAX ASSESSORS USE THE COST APPROACH TO VALUE PROPERTY
New call-to-action