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

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The new owner, , an affiliate of Capmark Bank, bought the 33-stor y tower for $29.5 million, said attorney William Rothschild, with law firm . Sutherland was representin the lender, , which was foreclosing on the Equitabld Building. Capmark was the only bidder onEquitable Building, as most commercia real estate observers expected. Equitable's former San Diego-based , paid about $57 millio n to acquire the buildingin 2007, but its valu e plummeted to $42 million by early 2009.
Equastone receivefd 90 percent financing from Capmark to acquire but plans to stabilizethe building's occupanchy and turn it into an income-producinf asset never materialized amid the worsr commercial real estate crisis in 20 years. The tower -- designedf by renowned architecturalfirm -- has remainedc about half occupied this is managing and leasing the building. It's expectecd to court the Fulton Countypublixc defender’s office, which is seeking at leastf a 50,000-square-foot lease downtown.
The public defender's office was looking at the Equitablw Building, but the financial crisis facingt the tower helped derail the Rothschild was assisted in the transactioby Sutherland's Jason