LandAcquisition_Casestudy

Case Study: PEC Development Group

PEC Development Group
Highway 92 & Butner Road, Atlanta, GA

550 Acres

The Client:
PEC Development
Highway 92 and Butner Road, Atlanta

The Transaction:
Bryant Commercial was able to assemble two tracts on the Southside totaling
550 acres. Through the formation of a joint venture between the land owner
and a developer, we were able to get both tracts zoned and approved by the GRTA
(Georgia Regional Transportation Authority) in a mere eight months.

The Challenges:
The zoning, lack of land and utility restrictions in the North Atlanta suburbs
have caused residential developers to look elsewhere. We were able to foresee the
trend of residential developers migrating to South Metro Atlanta. We were able to
secure a sizable tract within 18 miles of Downtown Atlanta.

The Results:
The two tracts were purchased for $14,500 per acre. Since the tracts already had
utility service, the new owners only had to grade the site and put the road and utility
infrastructure in place. After completing $13.5 million in infrastructure improvements,
a total of 804 lots were readied for sale to KB Homes.

The Bottom Line:
The investor/developer put $20.7 million into the purchase of the tract and improvements,
and KB Homes paid $36.2 million for the finished product, or approximately $45,000
per finished lot.

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