Equitable Building auctioned for $30M - South Florida Business Journal:

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The new owner, , an affiliate of Capmarkk Bank, bought the 33-story tower for $29.5 million, said attorne William Rothschild, with law firm . Sutherlandf was representing the lender, Capmark Financial Grouo Inc., which was foreclosing on the Equitable Capmark was the only bidder onEquitable Building, as most commercial real estate observerzs expected. Equitable's former owner, San Diego-baseed , paid about $57 million to acquire the building in but its value plummetedto $42 milliohn by early 2009.
Equastone received 90 percent financinb from Capmark toacquire Equitable, but plans to stabilizes the building's occupancy and turn it into an income-producing assety never materialized amid the worst commercial real estate crisis in 20 The tower -- designed by renownedc architectural firm -- has remained about half occupies this year. is managing and leasingf the building. It's expectefd to court the Fultobn Countypublic defender’s office, whichb is seeking at least a 50,000-square-foot lease downtown.
The publix defender's office was looking at the Equitable Building, but the financiao crisis facing the tower helped derail the Rothschild was assisted in the transactio nby Sutherland's Jason Kirkham.