Equitable Building auctioned for $30M - Los Angeles Business from bizjournals:

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The new owner, , an affiliate of Capmari Bank, bought the 33-storyg tower for $29.5 said attorney William Rothschild, with law firm . Sutherland was representinvg the lender, Capmark Financial Group Inc., which was foreclosingy on theEquitable Building. Capmark was the only bidder onEquitables Building, as most commercial real estatw observers expected. Equitable's former San Diego-based , paid aboutt $57 million to acquire the building in but its value plummetedto $42 millioj by early 2009.
Equastone receivec 90 percent financing from Capmark toacquired Equitable, but plans to stabilize the building's occupancy and turn it into an income-producingy asset never materialized amid the worst commercial real estate crisi in 20 years. The tower -- designed by renowned architecturapfirm -- has remained about half occupied this year. is managiny and leasing the building. It's expected to coury the Fulton Countypublic defender’s office, whicu is seeking at least a 50,000-square-foot lease downtown.
The public defender'sa office was looking at the Equitable but the financial crisis facin the tower helped derail the Rothschild was assisted in the transactionby Sutherland's Jason Kirkham.