C-III Capital Partners has decided to auction off Powerhouse and Grand Central Office Buildings in Downtown St Louis. The property is currently listed for an auction scheduled for Tuesday, April 26th on Auction.com with a starting bid of $400,000. Previous to this listing, C-III had the buildings listed for ... More

Add Powers Ferry Landing East to the list of distressed Atlanta office deals.... Citybiz Real Estate reports that a foreclosure sale has been scheduled for May 3rd. In 2006, Argus Realty Investors (now part of Thompson National Properties) bought the property for $65.3 million from TA Associates Realty. Argus Realty Investors ... More

The Atlanta Business Chronicle reported today that Lincoln Property Company acquired 55 Allen Plaza at a foreclosure auction, on behalf of the Teachers Retirement System of the State of Illinois. The retirement system purchased the $83 million first mortgage from Bank of America last month. As the only bidder at ... More

GE Capital is scheduled to foreclose on 7777 Bonhomme, located in Clayton, Missouri, the financial district of Metro St Louis, on March 25th. The 24-story office tower consists of 196,000 square feet, was built in 1968 and renovated in 2000. Currently owned by NNN 2003 Value Fund LLC, the property ... More

The Atlanta Business Chronicle has reported that the mortgage secured by the tallest building in the Southeast, Bank of America Plaza, has been transfer to LNR Partners for special servicing. The 1.25 million square foot, 55-story office tower was purchased by BentleyForbes in 2006 for $436 million from Cousins Properties ... More

As LNR Partners files to foreclose on Bass Berry & Sims previous home, Region's Center, Canyon-Johnson has taken over control of its new home, Pinnacle at Symphony Place. Previous to this action,Canyon-Johnson held the mezzanine position on this 520,000 square foot office tower which was developed by Atlanta-based Barry Companies, ... More

Last March, we reported that the $55 million first mortgage of secured by Regions Center, located in Nashville, Tennessee’s CBD, has been transferred to LNR Partners for special servicing. Last week, LNR Partners filed a foreclosure lawsuit on behalf CMBS holders. The current owner, West Palm Beach Fla.-based FRI Investors ... More

Last February, we posted about Trepp's list of the top CMBS mortgages underwater. One of those assets was the Westin O'Hare in Chicago. ChicagoRealEstateDaily.com reports that C-III Asset Management, the special servicer for the asset, has recently engaged Eastdil Secured to help dispose of the property. From the article: Dallas-based Ashford ... More

The Austin Business Journal reported today that Nomura Credit & Capital Inc. has foreclosed on Plaza 35, a 194,700-square-foot office building in North Austin. In October, HFF listed the note on Loopnet for sale as a $20.4 million non-performing loan. View Larger Map The building, which is occupied by Dell Financial Services, ... More