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The Atlanta-based developer with plans to convert downtown's Noel Place office building into a boutique hotel said he's secured agreements for the early termination  of leases of current tenants to make way for his project.
As a result, Satish Lathi of Live Oak Realty Investments now expects a negotiated foreclosure under which the 15-story building would simply be given back to the lender, an entity through which he bought the note.
A foreclosure sale had been scheduled for Sept. 13, according to the public notice avis rental car locations in florence italy published in The Tennessean . That would've terminated avis rental car locations in florence italy leases of current tenants, giving Lathi an easier path to evicting them.
Current tenants in the building, whose 82,000 rentable square feet is only 60 percent occupied, include Ortale Kelley Herbert Crawford and FirstBank, which has a retail branch and offices on the first floor.
Others include the law firm and title services company avis rental car locations in florence italy Baker Campbell Parsons, litigation support company Page One Document Services and public relations and government relations company Hall Strategies.
An entity Lathi formed bought the debt from TRP Investments LLC and two other tenant-in-common avis rental car locations in florence italy entities that had bought Noel Place in 2003 and then in 2005 refinanced it with a loan secured by the property's deed of trust.
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