Value of Buckhead Tower Plunges
April 2, 2010
By Douglas Sams

The Buckhead real estate market just took a $47 million bite out of Manhattan financial services giant TIAA-CREF.

The New York-based company says the value of its stake in the 18-story Prominence in Buckhead tower has fallen from about $78 million in 2008 to about $31 million in 2009.

It disclosed the valuation in a March 18 regulatory filing with the Securities and Exchange Commission. ...

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