LandAcquisition_casestudy

Case Study: The Gross Family

The Gross Family
Salem Road, Conyers, GA

1,200 Acres

The Client:
The Gross Family

The Transaction:
The Gross Family had amassed over 1,200 acres of holdings on the eastside of
Rockdale County, approximately 20 miles east of Downtown Atlanta. Their holdings
comprised an 18-hole golf course, apartment complex, 2 small office buildings,
a retail center and 900 acres of vacant land. In order to simplify estate tax issues,
the family elected to sell all of their holdings collectively. They listed the entire portfolio
for sale with Bryant Commercial Real Estate Partners.

The Challenges:
Although the family had several offers on various assets of their portfolio, the family was
not interested in selling them piecemeal. Bryant Commercial was able to secure
several purchasers for the entire portfolio within six months.

The Results:
Hawkins Development was selected as the buyer of the portfolio. Hawkins Development
paid $18.25 million for the portfolio of assets. Through our marketing of the portfolio,
several buyers were interested in portions of the portfolio. During the succeeding 12 month
period Bryant Commercial sold portions of the property to other developers in excess of
$12 million cash. In addition to the cash proceeds generated for the partial sales,
Hawkins retained ownership of over $20 million worth of land.

The Bottom Line:
The holdings were unique in that the infrastructure of sewer and utilities were in place
and made the vacant land prime for residential and multi-family development.
The growth in households ultimately made the commercial tracts more valuable for purchaser.
The Gross Family was able to sell a complex portfolio of assets in a timely manor.
Hawkins Development was able to sell a portion of the assets to create a quick return,
ultimately increasing the value of the remaining holdings and substantially lowering the
basis in the property.

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