ROSWELL, Ga. -- MetLife Inc. has foreclosed on Roswell's Colonial Center at Mansell Overlook for more than $80 million, according to Fulton County records and Databank Inc.
The foreclosure, completed in December, includes the development's four mid-rise office buildings and its retail properties. The project went back to MetLife for about $82.5 million, according to Databank, an Atlanta firm that covers commercial real estate transactions.
Mansell Overlook got caught in a highly competitive north Fulton market and the slow rebound in job growth after the downturn.
In 2006, near the height of the commercial real estate boom, Birmingham, Ala.-based Colonial Properties Trust completed a $166.4 million joint venture, sale and long-term management and leasing assignment deal with UBS Wealth Management for Mansell Overlook.