BofA Plaza Package Fetches $250M At Auction

Law360, New York (February 7, 2012, 10:55 PM EST) -- Bank of America Plaza, the crown jewel of the Atlanta skyline and the tallest skyscraper in the Southeastern U.S., was sold along with other personal property for $250 million at a public auction Tuesday after the building's owner failed to make mortgage payments.

The winning bidder, JPMCC 2006-CIBC-17 Office LP, is a special-purpose entity formed to hold the tower's loan and to own the property, said Howard Walker of McGuireWoods LLP, who ran the auction on the steps of the Fulton County Courthouse.

JPMCC bought the...
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