Iconic part of Atlanta skyline foreclosed in loan default

ATLANTA (AP) — An iconic part of Atlanta’s skyline is back in the hands of lenders after its owner defaulted on a loan. The foreclosure on much of Peachtree Center points to uncertainty in the office space market since the pandemic prompted many Americans to work from home. Six office towers and an underground mall in downtown Atlanta were auctioned Tuesday on the steps of the Fulton County Courthouse. The Atlanta Journal-Constitution reports that Miami-based Banyan Street Capital owed more than $125 million. It didn’t help when Truist Financial Corp. moved out last year. The foreclosure does not affect AmericasMart and the Marriott Marquis and Hyatt Regency hotels.