The lender was the high bidder at a foreclosure auction held this morning for four North Raleigh office buildings.
The buildings, located just beyond the Beltline between Atlantic Avenue and Capital Boulevard, are part of the 150-acre Highwoods Office Park. They were built between 1982 and 1999 and contain about 256,000 square feet.
The high bid by the lender was $22 million, said Barry Mann, substitute trustee.
Craig Davis Properties and First Point Partners, a New York real estate firm, bought the buildings in February 2007 from Highwoods Properties for $30.4 million. Craig Davis has said his Cary company owns less than 7 percent of the buildings.
The lender on the deal was Column Financial, the commercial real estate lending arm of investment bank Credit Suisse. The company shut down last year, and Wells Fargo is now acting on behalf of investors who hold the $29 million loan on the four properties.
Investors now have 10 days to submit a rival bid that is at least 5 percent higher than the current high bid of $22 million.