Tower Place 200, in Atlanta’s Buckhead Office Market, to go into Receivership
The day Tower Place 200 was schedule to go on the auction block, the lender and owner agreed to put the property into receivership. Instead of putting the office tower on the market to the highest bidder on Tuesday (October 6th, 2009), Transwestern Investment Co. (owner) and CWCapital (lender) decided to put the office tower into receivership. PM Realty was hired as the receiver, and will begin to manage and lease the building immediately. Transwestern Commercial Services, who is currently located in 12,000 Square Feet at Tower Place 200, will no longer manage or lease the office tower. In fact, they will soon be out in the market looking for a new location in another Class A office tower. For more information, please find the link to the Atlanta Business Chronicle who broke the story.
Tower Place 200
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