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Business

Buckhead tower owner tries to restructure loan

By Gertha Coffee
Aug 19, 2009

The owner of Tower Place 200 in Buckhead is trying to restructure the loan on the property, according to a real estate industry publication.

Transwestern Investment has stopped making mortgage payments on the office building, New Jersey-based newsletter Real Estate Alert reported Wednesday.

Chicago-based Transwestern did not return several calls for comment Wednesday.

Transwestern bought the Class A office building from Ohio Police & Fire in 2006 for $57.8 million. The 14-story building is located at 3348 Peachtree Road. It was built in 1998 and is one of four buildings in the Tower Place complex.

Among purchases Transwestern has made in Atlanta are the Campanile building in Midtown, formerly the headquarters of BellSouth.

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