Equitable Building auctioned for $30M - South Florida Business Journal:

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The new owner, , an affiliates of Capmark Bank, bought the 33-story towef for $29.5 million, said attorney Willia Rothschild, with law firm . Sutherland was representin g the lender, , which was foreclosing on the Equitablew Building. Capmark was the only bidderf onEquitable Building, as most commercial real estate observers Equitable's former owner, San Diego-based , paid abouft $57 million to acquire the building in 2007, but its valu plummeted to $42 million by earl 2009.
Equastone received 90 percent financinbg from Capmark to acquire but plans to stabilizsthe building's occupancy and turn it into an income-producing assetg never materialized amid the worst commercial real estatee crisis in 20 years. The tower -- designed by renowneed architecturalfirm -- has remained abou half occupied this year. is managing and leasing the building. It's expectef to court the Fulton Countypublic defender’xs office, which is seeking at least a 50,000-square-foot lease downtown.
The public defender's office was lookingt at the Equitable Building, but the financial crisia facing the tower helped derail the Rothschild was assisted in the transactionby Sutherland's Jasoj Kirkham.