Cousins Properties, Inc., an Atlanta, Ga.-based real estate company, acquired Post Oak Central, a Class A office complex in the Galleria submarket of Houston, Texas, for $232.6 million from institutional investors advised by J.P. Morgan Asset Management. The company also formed a joint venture with institutional investors advised by J.P. Morgan Asset Management to purchase both Terminus 100 and Terminus 200, neighboring Class AA office towers in Atlanta’s Buckhead submarket, and acquired the remaining 80 percent interest in Terminus 200 from a fund managed by Morgan Stanley Real Estate Investing.
Don’t believe the hype. This is not necessarily a good thing, and as a fact, I know it’s not. Just because foreclosure notices are down means nothing regarding actual foreclosure numbers. There is a huge amount of shadow inventory still lingering on many of the local bank’s books, almost a years worth actually. More foreclosure are coming, and soon. I predict that the banks will wait until after the holiday to begin releasing more foreclosures and begin to post notices directly after Christmas. A major problem is the continued backlogging of foreclosures and per-foreclosures. Banks and asset managers alike are realizing that it’s more beneficial for them to allow people to stay in their homes for longer periods of time to allow them to maintain the asset and help keep home values up. This in itself it delaying the foreclosure process, especially since the feds continue to roll out new regulations regarding such matters. So to conclude, do not pay attention to the data regarding foreclosures or notices because you have to step back and discover the entire picture. CLICK HERE to read the original article
We are officially building our first custom home in the Buckhead area of Atlanta, Georgia. Buckhead is in the heart of Atlanta and consists of major commercial centers and high-end luxury real estate including single family homes, condos and town homes. Buckhead is officially in the City of Atlanta but many consider Buckhead its own entity, a sort of village if you must.
Below is what currently sits on the property.
We are taking the existing home that is situated on the lot and expanding it substantially, adding a 2-car garage onto the front, expanding the main floor back and adding a 2nd story. In all there will be 5 bedrooms and 4.5 baths.
The interior will include high-end finishes including Viking Appliances, 2 tone granite kitchen with island, main floor master bedroom and full laundry/mudroom off the garage.
Apparently the real estate recovery has finally come to fruition according to many professionals in the industry. Strong listing and sales numbers confirm this, along with the increase demand for investment property, especially multifamily and commercial rental space. Some prices are hitting 2007 levels in some ares which is a strong indicator of economic rebound. According to Bill Mack, AREA Property founder and chairman, “I think the recovery has started, we bounced off the bottom. But the recovery has been tepid, it’s been spotty and it’s been uneven.”
This historic home was built for Thomas Jefferson’s great great grandson Hollins Randolph in 1924. It was moved fourteen years ago by 40 feet so a condo development could be built, but now, the developer wants to tear it down.