Roberts Moving Forward in Forsyth
It appears Roberts Realty Investors is moving forward on Bradley Park. The company notified investors via SEC docs that it's obtained land disturbance permits to develop the 22-acre project off Highway 20 and GA 400 in Forsyth County that will include 152-unit apartment complex. (You should have to get a land disturbance permit every time you play golf.) “We are currently completing the final architectural design drawings to enable us to apply for our building permits prior to May 30, 2014,” Roberts Realty officials state in docs.
The company also states that it continues to use JLL to market its North Springs TOD mixed-use site, a 10-acre parcel in Sandy Springs next to the North Springs MARTA station that could include more than 350 units of apartments, 210k SF of office and 56k SF of retail. “We believe the current market and demand for a transit-oriented, mixed-use site like North Springs provides us with an excellent opportunity to sell this asset.” Other news revealed by Roberts Realty in docs:
- As we first reported, it continues to pursue a sale or merger for the company, but no transaction is pending or been entered into thus far.
- The company plans to buy Class-B apartments across the Southeast, either through JVs with “pension funds, life insurance companies, hedge funds, foreign investors or other institutional investors,” with plans to reposition and upgrade the properties.