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Loan Modification
: Mortgage Lender Implode-o-MeterAtlanta Bank of America Plaza headed for default
By Implode-Explode Heavy Industries
The mortgage on Atlanta's Bank of America Plaza, one of the 10 tallest U.S. buildings, has been transferred to a special servicer as its owner prepares to default on the $363 million mortgage, Fitch Ratings reported.
BentleyForbes, a Los Angeles-based commercial real estate company, bought the property in 2006 for $436 million from a partnership of Bank of America Corp (BAC.N) and Cousins Properties Inc (CUZ.N), a real estate investment trust.
Full post as published by Mortgage Lender Implode-o-Meter on February 10, 2011 (boomark / email).
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