A year after the possibility was floated by special servicing monitor Trepp, Fiserv's former Peachtree Corners office campus has returned to the lender.
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The 221k SF wooded campus at 4411 East Jones Bridge Road has been foreclosed with Credit Suisse First Boston CMBS 2016 Noteholders for $8.5M, according to Databank. That's a far cry from the more than $25M left on the original $30M loan balance. Trepp again issued notification that foreclosure occurred on July 5.
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So ends the saga of the Fiserv campus, developed by CheckFree, a fintech firm founded in Norcross, but purchased by Fiserv in 2007. Fiserv moved to Cobalt Center, a 376k SF office complex in Alpharetta, last year, leaving its former location completely vacant. Sources say the property had been eyed by residential developers and it was even briefly close to a sale with an unidentified user. CRE observers say with a new value basis, interest in the property could resurface.
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