Business Services Industry
New York's AUSA Life Insurance Co. Buys Memphis, Tenn., Office Tower.(Originated from The Commercial Appeal, Memphis, Tenn.)
Knight Ridder/Tribune Business News, December, 1996 by Obermark, Jerome
Dec. 11--A New York life insurance company Tuesday acquired the 32-story Commerce Square Tower, its nine-story parking garage and the four-story National Bank of Commerce main bank building downtown Tuesday in a foreclosure sale for a $21.7 million bid.
It includes all the property bounded by Second, Union, Mid-America Mall and Monroe.
AUSA Life Insurnace Co. Inc., a New York insurance company, held the first mortgage which became due Nov.1, 1996. It was a non-recourse loan and was in default by its own terms, said John B. Maxwell Jr., trustee for AUSA Life Insurance Co., the new owner.
The original mortgage loan amount made in 1989 was for $28 million, Maxwell said.
Maxwell said he wasn't sure of the loan balance...
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1
karen b
RE: Knight Ridder/Tribune Business News
Can you tell me how some one get away with taken money from
some who don't even know that they had a check for a large
some of money from this company. I would like to talk to some
one on the phone to find out when i was paid a large sum of
money that i had never recieved.
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