Equitable Building auctioned for $30M - St. Louis Business Journal:

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The new owner, , an affiliat of Capmark Bank, bought the 33-story towef for $29.5 million, said attorney William with lawfirm . Sutherland was representing the lender, , whic h was foreclosing on theEquitable Building. Capmark was the only biddeer onEquitable Building, as most commercial real estate observers expected. Equitable's former owner, San Diego-basedr , paid about $57 million to acquire the buildinfin 2007, but its value plummeted to $42 million by early 2009.
Equastone received 90 percent financing from Capmarl toacquire Equitable, but plans to stabilizew the building's occupancy and turn it into an income-producing assey never materialized amid the worst commercial real estatee crisis in 20 years. The tower -- designed by renownes architecturalfirm -- has remained about half occupied this year. is managing and leasingh the building. It's expected to court the Fulton Countypublic defender’s which is seeking at least a 50,000-square-foogt lease downtown. The public defender'se office was looking at the Equitable but the financial crisis facing the tower helpefd derailthe move.
Rothschil d was assisted in the transactionby Sutherland's Jaso Kirkham.