Atlanta HUD office building sold at foreclosure auction

In another troubling sign for commercial real estate, a downtown office tower housing the Atlanta HUD office was sold at a foreclosure auction this week for $7 million.

The building, located in Five Points Plaza at 40 Marietta St. N.W., was controlled by Atlanta commercial real estate firm Richard Bowers & Co.

“I couldn’t get it refinanced by the lender,” Richard Bowers, the company’s president, said Thursday. “Lenders aren’t doing what they should be doing.”

Read more from the AJC

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