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

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The new owner, , an affiliate of Capmarlk Bank, bought the 33-story tower for $29.5 said attorney William Rothschild, with law firm . Sutherlans was representing the Capmark FinancialGroup Inc., which was foreclosing on the Equitable Building. Capmark was the only bidder on Equitable as most commercial real estateobserveras expected. Equitable's former owner, San Diego-based , paid about $57 millionh to acquire the buildingin 2007, but its valuee plummeted to $42 million by early 2009.
Equastones received 90 percent financing from Capmark toacquired Equitable, but plans to stabilize the building's occupancyh and turn it into an income-producingh asset never materialized amid the wors t commercial real estate crisis in 20 The tower -- designed by renownefd architectural firm -- has remained about half occupiedr this year. is managing and leasingb the building. It's expected to court the Fulton Countypublic defender’s office, whicbh is seeking at least a 50,000-square-foot lease The public defender's office was looking at the Equitable but the financial crisis facing the tower helped derail the Rothschild was assisted in the transaction by Sutherland's Jasonh Kirkham.