Home To HUD Regional Office Falls To Foreclosure; Can Eviction Of Federal Housing Agency Be Next?

In Atlanta, Georgia, The Atlanta Journal Constitution reports:

• In another troubling sign for commercial real estate, a downtown office tower housing the Atlanta HUD office was sold at a foreclosure auction this week for $7 million. [...] The Atlanta regional office of the U.S. Department of Housing and Urban Development is the sole occupant of the 17-story Marietta Street building. HUD’s mission includes overseeing programs to help homeowners avoid foreclosure. A HUD Atlanta spokesman said more than 400 people work in the building. “There has been no interruption to the operation,” said Joseph Phillips. “We are continuing to operate as usual.”

For the story, see Atlanta HUD office building sold at foreclosure auction.