General Services Administration and law firm Finch McCranie. The delinquency rate of commercial mortgage-backed securities, the type of mortgage that makes up the bulk of the Peachtree Center debt, dipped below 3% in August for the first time since the start of the pandemic, according to data firm Trepp.īut multiple leases are coming due by December, including the U.S. Office space demand has been inconsistent since the onset of COVID-19, and with fears of a recession, some commercial real estate experts worry Peachtree Center’s foreclosure could signal dark times to come for some office owners. The future of Peachtree Center remains in flux, since ownership of the buildings now revert to investors. The properties up for sale included the towers known as Marquis I and II the towers known as 225, 229, 233 and 235 Peachtree and the shopping mall at 231 Peachtree.
Stupar declined to comment, and neither Banyan Street nor SitusAMC could immediately be reached for comment.
“It was a good showing,” Stupar said of the crowd of more than a dozen who gathered to hear one of Atlanta’s largest foreclosure auctions in the past decade.
