Fannie Mae has seized The Peach, the 12-story apartment tower at 1655 Peachtree Street NE, after coming out on top at a foreclosure auction on April 7. The lender paid $24.6 million for the 68-unit high rise, then shifted the title into an LLC tied to a commercial loan servicer.
According to documents filed with the Georgia Superior Court Clerks' Cooperative Authority, Fannie Mae scheduled the sale and ultimately emerged as the winning bidder at the April 7 auction. As reported by Bisnow, the debt started as a roughly $23.2 million loan originated in February 2024 by Lument Real Estate Capital and later assigned to Fannie Mae. A deed indenture cited in the filings states that foreclosure was pursued because of the borrower’s failure to comply with the terms and provisions of the loan documents. Public records show the new title was recorded a week after the auction in the name of 532 Title Way LLC.
The building and where it sits
The Peach is a circa-1960s former office tower that has been converted to residential use and literally straddles the Downtown Connector at the edge of Midtown and Buckhead. Public listing and parcel records identify the property as 1655 Peachtree St NE and outline the lot boundaries and building footprint. Parcel and property data are available on LoopNet.
Loan, investor claims and foreclosure
The refinancing that set up the foreclosure traces back to early 2024, when owner Samuel Lloyd secured a roughly $23.2 million loan from Lument. Bisnow also reports that investors in the project sued the developer in January 2025, accusing him of falsifying leases and failing to disclose the refinancing. That lawsuit was voluntarily dismissed in September, and Lloyd denied the allegations. Those disputes, combined with the borrower’s apparent failure to meet loan provisions, set the stage for the lender to move ahead with auctioning the asset.
Who might manage the property now
Title now rests with 532 Title Way LLC, and in situations like this, commercial loan servicers typically step in to steady the ship. TriMont is a commercial mortgage servicer that regularly handles special-servicing and asset-management duties on troubled loans, and its public disclosures describe work such as preservation, asset management and preparing collateral for eventual sale or re-operation. TriMont’s role is outlined in SEC filings.
What renters should watch
For residents, a foreclosure like this does not automatically translate into instant evictions. Servicers and new owners usually take time to evaluate occupancy, needed repairs and operating costs before deciding whether to keep running the building, sell it or recapitalize it. Tenants should watch their mail for official notices about any changes in management or ownership and reach out to the property manager with questions. Local tenant-advocacy groups and county housing offices can also be resources if renters have concerns about eviction, lease terms or basic habitability.
