Dollar value of transaction: $66,000,000.00
Name of principal attorneys involved: Thomas J. Andersen, Amy H. Bray
Thomas J. Andersen, with the assistance of Amy H. Bray, spearheaded the negotiation and closing of the acquisition of a large portion of the land known as the "Beltline". The Atlanta Beltline is a 66 acre (4.5 mile) portion of unused railroad track that has long been the object of urban land planners' dreams for Atlanta's growth. After only a month's worth of time to prepare, and close to 200 separate parcels of land with title issues stretching back to the time when General Sherman burned Atlanta, the purchase closed on the last business day of the year in 2004.
The deal itself was awarded the Atlanta Business Chronicle's "Land Deal of the Year" for 2004.
Of course, after that deal closed, Mr. Andersen and Ms. Bray remained an integral part of the team that worked on the re-development of that portion of the Beltline. Their continued involvement ranged from dealing with all manner of interesting and convoluted real estate law questions to drafting contracts and other documents that dealt with the future development on that portion of the Beltline.
On October 31, 2007, our clients closed on the sale of the Beltline property for $66,000,000.00 to NE Corridor Partners, LLC. Mr. Andersen was the only attorney on the seller's side negotiating with 16 different lawyers on the purchaser's side (including attorneys from large, well-respected firms located in Atlanta, Dallas, and Washington D.C.) leading up to the transaction, regarding sale, use, and financing issues. Mrs. Bray joined in shortly before the closing of the transaction to help resolve complex title issues. In addition, nearly on the eve of closing Mr. Andersen negotiated the interim financing from seller to allow the buyer to complete the transaction.
Andersen, Tate & Carr, P.C. is proud and pleased to have been involved with the development of this piece of land that may have such an extensive impact on the way Atlantans live, work, and play.
