Search
 

Lenders in Georgia Unloading REOs

ATLANTA-Flagstar Bank sold the 43,000-square-foot Ellard Mercantile Exchange Center in Alpharetta for $4 million on July 30th.

By Hortense Leon | Updated on August 16, 2010

ATLANTA-Lenders in Georgia are starting to let go of their distressed retail assets, first by foreclosing on them, then selling them off, according to real estate experts in the Atlanta area.

“We are seeing an increase in foreclosed retail properties becoming available and expect this trend to continue through 2010,” says Kyle Stonis, a partner with Bull Realty in Atlanta.  “Banks will start to sell more of their properties now that they have had some success in raising capital and are starting to see positive earnings,” he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.