CapitalMarkets_CaseStudy

Case Study: Alta Vinings Mixed-Use

Alta Vinings Mixed-Use
Atlanta, GA

17+ Acres, 200 Units

The Client:
Archstone Vinings (Alta Vinings)

The Transaction:
George Morgan, a local developer, asked Bruce Davis to represent him in an off-market effort to
acquire the apartment project.

The Results:
Despite initial resistance from an unwilling seller, Davis was able to secure an executed
contract for the Purchaser. His plan was to redevelop the site into high end condominiums
with a small retail and restaurant component. Davis devised a non-circumvent agreement protecting
his client’s position and presented the opportunity to several equity source/prospective co-developers
at a price of $20 million for the 17+ acre site. Wood Partners, LLC agreed to step up and quickly
posted a hard earnest money deposit. They then proceeded to negotiate a short extension with
the Seller due to a previous relationship and subsequently provided the required equity
and debt financing to close the transaction.

The Bottom Line:
The project, since renamed ALTA VININGS, has recently been rezoned for approximately double its
original density and is slated for demolition and redevelopment.

Bryant Commercial Real Estate Partners
One Alliance Center - 3500 Lenox Road NE, Suite 200, Atlanta, GA 30326
Phone: 404.442.2810 Fax: 404.442.2811