The Archives
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01.29.09Atlanta condo sales take a nosediveFrom the AJC: Demand for condominiums in intown Atlanta has “evaporated,” with just 66 new units sold in the second half of 2008, according to Haddow & Co., a local real estate consulting firm that’s been studying the condo market since 1999. That’s an 88 percent dropoff from the number of units sold in the first half of 2008. Just 645 new condos sold all of last year — 76 percent below the annual average of the previous eight years. “Interest rates are very low, prices are falling, product availability is enormous, but closings are scarce,” the report says. “In the words of ...
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09.26.08Capital Bank to acquire branches from Atlanta-based OmniFrom Yahoo: Capital Bank Corporation (Nasdaq: CBKN - News), headquartered in Raleigh, NC and the parent company of Capital Bank, today announced that it has entered into a definitive purchase agreement to acquire the four Fayetteville area offices of Omni National Bank in a cash transaction. Omni National Bank is the banking subsidiary of Omni Financial Services, Inc., a bank holding company headquartered in Atlanta, GA. As a result of this transaction, Capital Bank will assume deposits currently totaling approximately $105 million and will purchase approximately $50 million in selected loan balances. In addition, Capital Bank will acquire the real estate assets ...