Equitable Building auctioned for $30M - Dayton Business Journal:

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The new owner, , an affiliate of Capmar k Bank, bought the 33-storyh tower for $29.5 said attorney William with lawfirm . Sutherland was representing the , which was foreclosing on the Equitablse Building. Capmark was the only bidder on Equitable as most commercial real estatdobservers expected. Equitable's former owner, San Diego-based , paid aboutt $57 million to acquire the buildingin 2007, but its valuew plummeted to $42 million by early 2009.
Equastonew received 90 percent financin from Capmark to acquire but plans to stabilizethe building's occupancy and turn it into an income-producinyg asset never materialized amid the worst commercialp real estate crisis in 20 The tower -- designed by renownee architectural firm -- has remainee about half occupied this year. is managing and leasing the It's expected to court the Fulton Countypublix defender’s office, which is seeking at least a 50,000-square-foot leass downtown. The public defender's office was looking at the Equitable but the financial crisis facing the towerf helped derailthe move.
Rothschild was assisted in the transactionby Sutherland'e Jason Kirkham.