ATLANTA-According to Fitch Ratings, a mortgage attained by the Bank of America Plaza, a 55-story, 1.25-million-square-foot tower at the corner of Peachtree Street and North Avenue in Atlanta, has been shifted to LNR Partners, the special servicer. Since Los Angeles-based BentleyForbes is facing imminent default, the debt was moved to special servicing.
The balance amount of the loan is $363 million. Wells Fargo is the master servicer. BentleyForbes acquired the property in 2006 from Atlanta-based Cousins Properties Inc. for $436 million.For the full story, go to Atlanta Business Chronicle.
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