One River Place has great amenities, fine finishes and spectacular views of the Chattahoochee River.
What it - and nine other major Atlanta condo projects backed by failed lender Corus Bank - doesn't have is clarity.
The Trammell Crow Residential development along Powers Ferry Road is part of the Corus condo loan portfolio that is locked in limbo as the Federal Deposit Insurance Corporation and private equity firms jockey for terms on nearly $4 billion of the failed lender's assets.
The loans, including 10 in Atlanta totaling more than $600 million, will be sold for perhaps 20 cents on the dollar to 40 cents on the dollar, and the fallout for Atlanta is a giant question mark. To continue reading, click here. If you are interested in purchasing a condo or townhouse at dramatic savings, contact Greg Lyles.
Source: Atlanta Business Chronicle
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