Walton enters sale agreements for 1,595 single-family lots in metro Atlanta
Builder Online, 2020/07/29
The company's holdings represent $32 million in future transactions across seven communities
Walton, a real estate investment and land asset management company, has entered into residential land option agreements with a number of national and local home builders for 1,595 single-family residential lots and a 212-acre industrial site in metro Atlanta.
The properties are located across seven master-planned communities in the Atlanta area: Lost Creek, The Georgian, Liberty Crossing, Baker’s Farm, Liberty Park, Walnut Creek, and Woodbury Park. These holdings represent more than $32 million in future land transactions.
“While the above closings are good news for Walton and our investors, we are even more excited about the future exit activity secured through executed option agreements with public national builders,” says Anthony Sparrow, general manager, Tennessee and Georgia for Walton. “Supporting the delivery of new homes as the land is acquired from Walton and its investors is all part of our exit-focused strategy working with builders and developers to complete land transactions.”
Walton’s sale agreements include:
- A 409-acre parcel at Lost Creek, which will add approximately 800 single-family homesites to Dallas, Ga. Development is anticipated to begin in 2021.
- A 129-lot parcel at The Georgian near Villa Rica, Ga., with initial closings planned in 2021.
- A 146-acre parcel in the second phase at Liberty Crossing in Braselton, Ga., which will be developed into approximately 326 lots with initial closings expected in 2021.
- A 124-acre parcel in the second phase at Baker’s Farm, in Braselton. The parcel will be developed into approximately 179 lots with initial closings planned for 2021.
- Sixty-nine acres at Liberty Park, a third established community in Braselton. The land will be developed into approximately 139 lots with initial closings planned for 2022.
- The first phase at Walnut Creek, including 122 three-quarter acre lots, with its first closings expected in summer 2022.
- A 212-acre industrial site and 114 multifamily townhomes at Woodbury Park, a mixed-use development in South Fulton, Ga.
The option agreements are structured so that the land is bought in phases over time.
“These are highly desirable communities for families, including new and move-up buyers,” Sparrow adds. They support the greater infrastructure of the region and provide attractive investment opportunities that Walton is excited to be part of in metropolitan Atlanta.”