GSU won't be Equitable building's new owner

Florida-based firm with properties in Mid-Atlantic, elsewhere in Atlanta beats school to punch

The one-time commuter college turned major downtown property owner won't be adding the iconic Equitable building, which went into foreclosure two years ago, to its real-estate porfolio. Reports the AJC:

The Equitable building in downtown Atlanta has a new landlord. Coconut Grove, Fl.-based America's Capital Partners paid $19 million for the building, and plans to spend at least that much fixing up the iconic and historic piece of Atlanta’s skyline.

ACP owns properties in Pennsylvania, North Carolina, Maryland, Virginia, Washington, D.C., and Florida. Among its office buildings: Philadelphia's 2 Liberty Place and downtown Atlanta's Peachtree Center and the Cornerstone Building.

GSU had originally eyed the 33-story skyscraper for the Robinson College of Businees' administrative and faculty offices.