If Donald Trump still wants a building with his name on it in Midtown Atlanta, he may have to look for another location.
The location for a planned Trump Towers development could be sold to the highest bidder next month in a public auction.
A foreclosure notice has been published for property “at or in connection with 1240 Spring Street,” with 1240 West Peachtree, L.P. listed as the borrower, according to the notification.
Two $300 million high-rise condo towers were supposed to be located on West Peachtree Street at 15th Street, behind the High Museum.
Brent S. Gilfedder, an attorney with King & Spalding and who represent the lender, GE Business Financial Services, Inc., said it is the firm’s policy not to comment on its clients.
The property was purchased in March 2006 by Wood Partners for $21 million. The project was being developed by Wood and Miami-based Dezer Development, according to reports.
Construction was supposed to start in 2007 and both towers, housing about 570 units, were to be completed by this year. In July, Bennett Sands, director of Wood Partners, said the project was on hold, but not dead. Sands did not return calls seeking comment.
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