Richard Bowers & Co./TCN Worldwide Sets Record for Highest Land Sales Comp Per Acre in Buckhead
Richard Bowers & Co. in Atlanta Represented 40 Sellers.
Beginning in 2014 and closing at the end of 2019, Michael Cheney with Richard Bowers & Co. spearheaded and facilitated the assemblage of Paces Green condos along East Paces Ferry Road in Buckhead. The Paces Green Condo building consisted of 40 units, built in the 1950’s. Once the development is complete, it will become the newest luxury high-rise addition overlooking Buckhead Village.
A 225-foot-tall apartment tower with over 400 units will be developed in the place of Paces Green Condos. The newly developed high-rise will be at the epicenter of Buckhead Village and will assist in the broader expansion of Buckhead’s skyline.
Richard Bowers & Co. was successful at achieving 100% participation in the assemblage sale of all 40 condo units. The process took over one year to get all the condo units signed up under an Exclusive Representation Agreement.
The Sellers voted on all phases of negotiations with the Buyer and all decisions to include; counteroffers, contract terms, which buyer or buyers to proceed forward with, along with which attorneys to hire to represent them at various stages throughout the assemblage sale process.
During the 5+ year assemblage process, Richard Bowers & Co. retrieved a total of 200 signed agreements from the 40 Sellers, as explained below:
|• Exclusive Listing Agreements||= 40 Signatures|
|• Buyer # 1 Fully Executed PSA’s||= 40 Signatures|
|• Buyer # 2 Fully Executed PSA’s||= 40 Signatures|
|• Buyer # 2 Amendment #1||= 40 Signatures|
|• Buyer # 2 Amendment #2||= 40 Signatures|
To learn more about Richard Bowers & Co./TCN Worldwide in Atlanta, visit richardbowers.com.