The famed Equitable Building lording over Downtown Atlanta has hit the market nearly 18 years after a previous owner foreclosed on the distinctive tower.

Five Mile Capital Partners has tapped CBRE to market 100 Peachtree St, a 32-story, 622k SF tower. The Stamford, CT-based investment firm purchased the building in 2011 from Capmark Bank for $19M in a JV with America's Capital Partners, according to Commercial Real Estate Direct. Capmark foreclosed on a $52M loan on the tower held by Equastone in 2009. Five Mile has since become the majority owner, buying out ACP's interest.

Known as The Equitable Building, Five Mile dropped the old moniker in favor of the address, infused millions into its renovation and tapped Colliers to lease up the property, which was barely half leased when Five Mile acquired it.

This time, with renovations and improved occupancy, Five Mile will test an investment market in which $4B worth of office properties traded last year, according to preliminary data from Colliers International. Given how Colliers pushed up occupancy from a low of 45% to now more than 80%, with such tenants as Georgia's Own Credit Union and Koch, Five Mile could see Equitable trade for more than $85M, or some $140/SF.

Big deals last year included One Atlantic Center, bought by Starwood Capital for $315M; 191 Peachtree Tower (above), which Cousins Properties sold to a JV of Banyan Street Capital and Oaktree Capital Management for more than $240M; and Atlanta Financial Center, which was traded by Hines Interests to Sumitomo Corporation of Americas for $210M.

Three Ravinia Drive, the 814k SF pagoda-styled tower in Central Perimeter, got picked up by a fund of Atlanta-based Preferred Apartment Communities for $181.8M from CBREI in 2015, according to filings with the Securities and Exchange Commission.

According to Preferred Apartment Communities, the firm secured a $115.5M first mortgage from John Hancock Life Insurance Co maturing in 2042 with a fixed rate of 4.46% per year to fund its purchase.