Powder Springs Holdings, LLC and others1 collectively “Powder Springs” appeal from the trial court’s order confirming the nonjudicial foreclosure sale of certain real property the “Property” by appellee RL BB ACQ II-GA PSH, LLC “RL BB”. Powder Springs enumerates two errors, contending that the trial court erred by denying its motion to dismiss based on RL BB’s failure to obtain a certificate of authority prior to instituting the confirmation proceedings, which it contends was required under OCGA § 14-11-711, and that the trial court erred by confirming the sale because RL BB failed to present evidence of the fair market value of the Property as of the date of foreclosure. As more fully set forth below, we now affirm.
For purposes of this appeal, the underlying facts are undisputed. In July 2006, Powder Springs executed a promissory note, as subsequently modified, in favor of Branch Banking and Trust Company “BB&T”, which was guaranteed by several individuals and an LLC and secured by a deed to secure debt collectively “loan documents”. In 2011, BB&T transferred, assigned and conveyed all its interest in the loan documents to Rialto Real Estate Fund, LP “Rialto”, a Delaware Limited Partnership, and Rialto subsequently transferred, assigned and conveyed its interest in the loan documents to appellee RL BB. By this time the loan was in default, and RL BB instituted foreclosure proceedings pursuant to the power of sale contained in the security deed and thereafter conducted a foreclosure sale of the property securing the loan. Pursuant to OCGA § 44-14-161, RL BB then reported the sale to an appropriate superior court judge and filed the present confirmation petition. Following two hearings, the trial court confirmed the sale, and Powder Springs filed this appeal.
