Contact Us
News

BB&T GIVES REPRIEVE

Atlanta

Want to get a jump-start on upcoming deals? Meet the major Atlanta players at one of our upcoming events!

BB&T GIVES REPRIEVE
While he may have lost his iconic building, Hal Barry has been given a reprieve on foreclosure of his land.
 
50 allen plaza barry real estate bb&t foreclosure merrie tolbert
BB&T has ?delayed temporarily? the foreclosure auction for 50 Allen Plaza, the one-acre parcel that Barry planned for another office tower, BB&T's Merrie Tolbert told us via e-mail yesterday. The bank has advertised to foreclose on the land in the Fulton Daily Report for the past few weeks; the parcel was originally scheduled to beauctioned on the courthouse steps yesterday. Merrie declined to elaborate as to why BB&T decided to withdraw the property from foreclosure—the second time it has done so—or whether the bank would pursue foreclosure again. Hal, when reached by phone, also declined to comment on the latest developments.
Fulton COunty courthouse steps 55 allen plaza foreclosure
Yesterday, Lincoln Property Co successfully foreclosed on 55 Allen Plaza for $57M on the Fulton County Courthouse steps (seen here), a 30% decline from the original Bank of America loan value. Lincoln acquired the 350k SF Ernst & Young building on behalf of the Illinois Teachers Pension Fund.