{"id":1004051453,"date":"2012-01-13T08:34:03","date_gmt":"2012-01-13T16:34:03","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=31334"},"modified":"2022-12-08T21:49:50","modified_gmt":"2022-12-09T05:49:50","slug":"bank-of-america-plaza-could-be-headed-for-foreclosure","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bank-of-america-plaza-could-be-headed-for-foreclosure\/","title":{"rendered":"Bank of America Plaza Could be Headed for Foreclosure"},"content":{"rendered":"<p style=\"text-align: justify\">By Georgiana Mihaila, Associate Editor<\/p>\n<p style=\"text-align: justify\">According to the <em>Atlanta Business Chronicle<\/em>, Atlanta\u2019s tallest skyscraper\u2014Bank of America Plaza\u2014is being advertised for a foreclosure sale next month, if a deal is not be reached. Based on an advertisement in Wednesday\u2019s edition of the <em>Fulton County Daily Report<\/em>, the office tower is scheduled to be auctioned off from the Fulton County Courthouse steps on February 7.<\/p>\n<p style=\"text-align: justify\">The 55-story tower, located at Peachtree Street and North Avenue, registered an Atlanta record when bought by California-based BentleyForbes in 2006 for $436 million. Currently, its original debt\u2014with an initial combined balance of $363 million\u2014is in default; \u00a0a special servicer was brought in a year ago to help work out troubled loans, but no deal has yet been reached in order to avoid foreclosure. According to the <em>Atlanta Business Chronicle<\/em>, the special servicer\u2014LNR Partners\u2014has already started preparing for a possible foreclosure.<\/p>\n<p style=\"text-align: justify\">The occupancy of the 55-story tower is now down to 79 percent; Bank of America is still among its tenants, as is the law firm Troutman Sanders.<\/p>\n<p style=\"text-align: justify\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-31340\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/01\/401px-Bankofamerica-atlanta-feb091.jpg\" alt=\"\" width=\"200\" height=\"300\" \/><\/p>\n<p style=\"text-align: justify\">Bank of America Plaza, considered to be the tallest U.S. building outside of New York or Chicago, opened in 1992 as the NCNB\/NationsBank Plaza, soon to be taken over by Bank of America.\u00a0The tower occupies approximately 3.7 acres with\u00a01,287,997 square feet and 55 stories; it\u00a0boasts a 23-karat gold-leafed spire with a lighted, open-grid, stepped-pyramid\u00a0roof.<\/p>\n<p style=\"text-align: justify\">Currently, the uncertain future of the high rise has sparked many debates, given an ironic twist\u2014a building bearing the name of a bank often associated with foreclosure may now also be facing foreclosure.<\/p>\n<p style=\"text-align: justify\"><em>Photo Credit: Connor.carrey via Wikimedia.commons<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Georgiana Mihaila, Associate Editor<br \/>\nAccording to the Atlanta Business Chronicle, Atlanta\u2019s tallest skyscraper\u2014Bank of America Plaza\u2014is being advertised for a foreclosure sale next month, if a deal is not be reached. Based on an advertisement in Wednesday\u2019s edition of the [&#8230;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21742],"tags":[39387],"class_list":["post-1004051453","post","type-post","status-publish","format-standard","hentry","category-atlanta","category-latest","tag-atlanta"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bank of America Plaza Could be Headed for Foreclosure - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bank-of-america-plaza-could-be-headed-for-foreclosure\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of America Plaza Could be Headed for Foreclosure\" \/>\n<meta property=\"og:description\" content=\"By Georgiana Mihaila, Associate Editor According to the Atlanta Business Chronicle, Atlanta\u2019s tallest skyscraper\u2014Bank of America Plaza\u2014is being advertised for a foreclosure sale next month, if a deal is not be reached. Based on an advertisement in Wednesday\u2019s edition of the [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bank-of-america-plaza-could-be-headed-for-foreclosure\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-01-13T16:34:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:49:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/01\/401px-Bankofamerica-atlanta-feb091.jpg\" \/>\n<meta name=\"author\" content=\"Amalia Otet\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bank-of-america-plaza-could-be-headed-for-foreclosure\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bank-of-america-plaza-could-be-headed-for-foreclosure\\\/\"},\"author\":{\"name\":\"Amalia Otet\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9f6a1043b1429cf8ff129c75614caa73\"},\"headline\":\"Bank of America Plaza Could be Headed for Foreclosure\",\"datePublished\":\"2012-01-13T16:34:03+00:00\",\"dateModified\":\"2022-12-09T05:49:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bank-of-america-plaza-could-be-headed-for-foreclosure\\\/\"},\"wordCount\":280,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bank-of-america-plaza-could-be-headed-for-foreclosure\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/01\\\/401px-Bankofamerica-atlanta-feb091.jpg\",\"keywords\":[\"Atlanta\"],\"articleSection\":[\"Atlanta\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bank-of-america-plaza-could-be-headed-for-foreclosure\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bank-of-america-plaza-could-be-headed-for-foreclosure\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/bank-of-america-plaza-could-be-headed-for-foreclosure\\\/\",\"name\":\"Bank of America Plaza Could be Headed for Foreclosure - 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