Equitable Building auctioned for $30M - Kansas City Business Journal:

http://elhosseiny.com/article/REBIG-Bluffs-MLSNI-Forensic-Auditors--MLSNI-Shareholders.html
The new owner, , an affiliate of Capmark Bank, bought the 33-stor y tower for $29.5 million, said attorne y William Rothschild, with law firm . Sutherlands was representing the lender, , whichu was foreclosing on theEquitablw Building. Capmark was the only bidder onEquitabl Building, as most commercial real estate observersw expected. Equitable's former owner, San Diego-based , paid about $57 millionj to acquire the buildingin 2007, but its valus plummeted to $42 million by earlyh 2009.
Equastone received 90 percent financing from Capmarko toacquire Equitable, but plans to stabiliz e the building's occupancy and turn it into an income-producing assetf never materialized amid the worst commercial real estate crisizs in 20 years. The tower -- designed by renowned architecturafirm -- has remained abou half occupied this year. is managing and leasing the It's expected to court the Fulton Counttpublic defender’s office, which is seeking at leastr a 50,000-square-foot lease downtown. The publifc defender's office was looking at the Equitable Building, but the financial crisis facing the tower helped derai lthe move.
Rothschild was assisted in the transactionbby Sutherland's Jason Kirkham.