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Page of35 Information contained herein may have been provided by
outside sources and while deemed to be reliable, may beestimated,
projected, subject to change, and/or limited in scope, and
therefore should not be relied upon as accurate.Information should
be independently confirmed within an applicable due diligence
period.
LenderOrderedShortSale
2.5Acre
Mixed
Use
/Commercial
Site
HeartOfMidtownAtlanta
NORTHAVE. JU
NIPERST.
PONCEDELEONA
VE.
PIEDMONTAVE.
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Page2of35 Information contained herein may have been provided by
outside sources and while deemed to be reliable, may beestimated,
projected, subject to change, and/or limited in scope, and
therefore should not be relied upon as accurate.Information should
be independently confirmed within an applicable due diligence
period.
ExecutiveSummary
BullRealtyispleasedtopresentthislenderorderedsale,offeringinvestorsanopportunitytoacquireaprime
2.5acre assemblage approved for 1.4million square feet ofmixed
use or commercial development in
MidtownAtlanta,Georgia.BoundedbyfourwellknownstreetsPoncedeLeonAvenue,PiedmontAvenue,
NorthAvenue,andJuniperStreetthepropertycomprisesnearlyanentirecityblockwithunmatchedvisibil
ity located
intheheartofMidtown,onethemostsoughtafterbusinessandresidentialareas
intheentire
SoutheasternUnitedStates.ThepropertyislocatedwithintwoblocksofAtlantastallestskyscraper,Bankof
AmericaPlaza,EmoryUniversityHospitalMidtownandtheFabulousFoxTheatre.
TheSPI16zoningallowsversatileuses
includingoffice,retail,medical,hotel,multifamily,assisted
living,or
studenthousing.TheMidtownarea,convenienttoGeorgiaTech,GeorgiaStateUniversity,andEmoryUni
versity,is
popular
for
both
business
uses
and
residential
living.
Three
existing
buildings
totaling
in
excess
of
75,000squarefeetproducemodestincomefromshorttermleasesthatcanhelptodefrayholdingcosts.
UponexecutionoftheConfidentialityAgreement,anextensivepackageofduediligencedeliverablesasout
linedonPage34willbemadeavailable.
September2008appraisal: $27.3million
Currentapproximateloanbalance: $11million
Thepropertyisofferedunpriced,withthelenderexpectingtoacceptashortsaleofferforlessthantheloan
balanceand
for
aquick,
clean
closing.
PleasesubmitallwrittenofferstoDanielLatshawwithBullRealty,Inc.by5:00p.m.onFriday,June3,2011.
2.5AcresintheHeartofMidtownAtlanta
CALL FOR O FFERS JUNE 3 , 2011
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Page3of35 Information contained herein may have been provided by
outside sources and while deemed to be reliable, may beestimated,
projected, subject to change, and/or limited in scope, and
therefore should not be relied upon as accurate.Information should
be independently confirmed within an applicable due diligence
period.
2.5AcresintheHeartofMidtownAtlanta
TableofContents
Anyincludedincome,expenses,caprates,costs,returnestimates,renovations,measurements,squarefootage,acreage,projections,interestrates,loanterms,propertycondition,possibleuses,zoningandotherinformationhereinmayhavebeen
providedbytheseller,landlordorotheroutsidesourcesandwhiledeemedtobereliable,maybeestimated,projected,issubjecttochange,and/ormaybelimitedinscope,andthereforeshallnotberelieduponasaccurate.Anysuchinformationimportanttothe
purchaser,lesseeorotherpartiesshouldbeindependentlyconfirmedwithinanapplicableduediligenceperiod.Pleasedonotdisturbthemanagement,business,tenantsorsellers.Thisofferissubjecttopriorchangeorsalewithoutnotice.
Page
ExecutiveSummary 2
TableofContentsandDisclaimer 3
PropertyAerial 4
PropertyDetails 5
ParcelMap 6
PropertyPhotos
79
SurroundingAreaPhotos 1013
Demographics 14
TrafficCounts 1516
MidtownOverview 1719
FountainonPonceProjectDesigns 2031
AppraisalSummary 32
HistoricalPhotos 33
Summaryof
Available
Due
Diligence
Documents
34
BrokerProfile 35
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Page4of35 Information contained herein may have been provided by
outside sources and while deemed to be reliable, may beestimated,
projected, subject to change, and/or limited in scope, and
therefore should not be relied upon as accurate.Information should
be independently confirmed within an applicable due diligence
period.
PropertyAerial
FOX
THEATRE
FUTURE
COUSINS
DEVELOPMENT
SUBJECT
PROPERTY
BANKOF
AMERICA
PLAZA
EMORY
UNIVERSITYHOSPITAL
MIDTOWN
ALEXANDER
ONPONCE
RESIDENCES
CHURCH
SCAD
CAMDEN
IVYHALL
PUBLIX/
WALGREENS
GEORGIAN
TERRACE
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Page5of35 Information contained herein may have been provided by
outside sources and while deemed to be reliable, may beestimated,
projected, subject to change, and/or limited in scope, and
therefore should not be relied upon as accurate.Information should
be independently confirmed within an applicable due diligence
period.
PropertyDetails
131
Ponce
aka
Pei
Building
151
Ponce
128
North
Church
Parcel
NotPartOf
Offering
ParcelSize +/2.5Acres
County Fulton
Zoning
SPI16
ExistingBuildings Three BuildingsTotalingApprox.75,000SF
PropertyLocation NearlyEntireCityBlockinMidtownAtlanta
Price LenderOrderedShortSale,
CallForOffersDueJune3,2011
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Page6of35 Information contained herein may have been provided by
outside sources and while deemed to be reliable, may beestimated,
projected, subject to change, and/or limited in scope, and
therefore should not be relied upon as accurate.Information should
be independently confirmed within an applicable due diligence
period.
ParcelMap
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Page7of35 Information contained herein may have been provided by
outside sources and while deemed to be reliable, may beestimated,
projected, subject to change, and/or limited in scope, and
therefore should not be relied upon as accurate.Information should
be independently confirmed within an applicable due diligence
period.
PropertyPhotos
Therearepresentlythreeexistingbuildingsonthesiteapproximatelyof75,000squarefeet,whichproduce
modestincomefromshorttermleasestohelpdefrayholdingcosts.Properlyrepositionedand/orrenovated,
a
new
building
owner
may
be
able
to
substantially
increase
the
existing
income
stream.
131PoncedeLeonAvenue(akaPeiBuilding):
+/ 38,000SFoccupiedtwostorymultitenantofficebuilding
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Page8of35 Information contained herein may have been provided by
outside sources and while deemed to be reliable, may beestimated,
projected, subject to change, and/or limited in scope, and
therefore should not be relied upon as accurate.Information should
be independently confirmed within an applicable due diligence
period.
PropertyPhotos
151Ponce
de
Leon
Avenue:
+/
34,000SFvacanttwostoryofficebuilding,currentlyinshellcondition
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Page9of35 Information contained herein may have been provided by
outside sources and while deemed to be reliable, may beestimated,
projected, subject to change, and/or limited in scope, and
therefore should not be relied upon as accurate.Information should
be independently confirmed within an applicable due diligence
period.
PropertyPhotos
128North
Avenue:
+/ 5,831SFbuildingoccupiedbyasinglemedicaltenant
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Page10of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
SurroundingArea
CamdenIvyHallisanewresidentialcommunityacrossPiedmontAvenuefrom
thesubjectproperty.
AlexanderonPonceisanewlydevelopedresidentialcommunityacross
PoncedeLeonAvenuefromthesubjectproperty.
NeighboringDevelopments
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Page11of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
SurroundingArea
St.PaulsPresbyterianChurchoccupiesthesamecityblock
asthesubjectproperty.
EmoryUniversityHospitalMidtown,shownabove,istwoblocksaway;
thesubjectpropertysparkinglotandbillboardarevisibleatlowerright.
NeighboringProperties
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Page12of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
SurroundingArea
SavannahCollegeofArt&Design(SCAD)occupieshistoricIvyHall
acrossPiedmontAvenuefromthesubjectproperty.
TheGeorgianTerraceHotelrisesabovePeachtreeStreetacrossfromthe
FabulousFoxTheatreoneblocknorthwestofthesubjectproperty.
NeighboringProperties
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Page13of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
SurroundingArea
AviewfromthesubjectpropertytothewestshowsBankofAmericaPlaza
andtwocondobuildingsalongPeachtreeStreet.
AretailcenterwithPublixandWalgreenssitstotheimmediate
southeastofthesubjectproperty.
NeighboringProperties
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Page14of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
Demographics
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15/35
Page15of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
TrafficCounts
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16/35
Page16of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
TrafficCounts
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17/35
Page17of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
MidtownOverview
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18/35
Page18of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
MidtownOverview
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19/35
Page19of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
MidtownOverview
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20/35
Page20of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
FountainonPonce
FountainOnPoncewasthenamegiventothemixeduseprojectmaster
plannedforthissite.Whiletheprojectneverbrokeground,plansandde
signswerecompletedandzoningchangeswereapprovedbythe
CityofAtlanta(asshownonpp.67).
Thefollowingpagespresentsomeoftheplansanddesignsthatwerecom
pletedfor
this
project
.See
also
http://www.youtube.com/watch?v=csyg4WVG90c
foraninformativevideothatwasproducedin2007topromotetheproject.
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21/35
Page21of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
FountainonPonce
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22/35
Page22of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
FountainonPonce
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23/35
Page23of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
FountainonPonce
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24/35
Page24of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
FountainonPonce
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25/35
Page25of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
FountainonPonceConceptualDesign
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26/35
Page26of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
FountainonPonceConceptualDesign
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27/35
Page27of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
FountainonPonce
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28/35
Page28of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
FountainonPonceConceptualDesign
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29/35
Page29of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
FountainonPonceConceptualDesign
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30/35
Page30of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
FountainonPonceConceptualDesign
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31/35
Page31of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
FountainonPonceConceptualDesign
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32/35
Page32of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
AppraisalSummary
NOTE:FullAppraisalisavailableinseparatedocument
aspartofDueDiligencedeliverables.
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33/35
Page33of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
HistoricalPhotosofProperty
The Gulf Oil Building at 131 Ponce de Leon Avenue is
historically significant, as itwas the first
buildingeverdesignedbyrenownedarchitectI.M.Pei.
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Page34of35 Information contained herein may have been provided
by outside sources and while deemed to be reliable, may
beestimated, projected, subject to change, and/or limited in scope,
and therefore should not be relied upon as accurate.Information
should be independently confirmed within an applicable due
diligence period.
SummaryofDueDiligenceDocuments
DueDiligenceDeliverables
To
assist
the
bidder
in
making
a
more
informed
offer,
upon
execution
of
the
Confidentiality
Agreementafullpackageofthefollowingduediligencedeliverableswillbemadeavailable.
PhaseIEnvironmentalSiteAssessmentbyGaiaEnvironmentalConsulting
FullAppraisalReportbyKirkland&Companydated2008
TopographicReportbyEnvironmentalDataResources
AtlantaCityCouncilZoningOrdinanceforSubjectPropertydated5/8/07
ReportofPreliminarySubsurfaceExplorationandGeotechnicalEngineeringEvaluationbyPiedmontGeotechnical
Consultants,Inc.dated4/28/08
April2011RentRollfor131PoncedeLeonAvenue
2010IncomeandExpenseReport
Survey&LegalDescriptionbyBoundaryZone,Inc.dated3/14/08
TheFountainatPonceDevelopmentConceptSummarydatedApril10,2008
CityofAtlantaZoningGuidelinesforSPI16
TransportationAnalysisbyKimleyHornandAssociates,Inc.DRI#1476datedNovember2007
AtlantaRegionalCommissionReviewofImpactdatedNovember2007
ArchitecturalSitePlanbyLord,Aeck&Sargent
ConceptualDesignsbyLord,Aeck&Sargent
HarvardGraduateSchoolofDesignMidtownAtlantaProjectDesignCharretteMissionStatementdated9/10/07
HarvardGraduateSchoolofDesignMidtownAtlantaProjectDesignCharretteSummaryNotesdated9/20/07
HarvardGraduateSchoolofDesignMidtownAtlantaProjectDesignCharretteParticipantBios
HarvardGraduateSchoolofDesignMidtownAtlantaProjectDesignCharretteParticipantContactInfo
HarvardGraduateSchoolofDesignMidtownAtlantaProjectDesignCharretteBudget
ProjectBrochure
prepared
for
ICSC
AtlantaMagazinearticledatedSeptember2007:MidtownGrowsUp
MidtownMomentumarticledatedSeptember2008:EmorytoExpandMidtownCampus
AtlantaBusinessChroniclearticledated4/30/07:Dirtfor$13MillionanAcre
AtlantaJournalConstitutionarticle:ComplexWillRetainHistory
MidtownAllianceCommunityOverview2007
MidtownAllianceCompilationofUnderConstruction&PlannedDevelopments2010
FultonCountyBoardofAssessorstaxsummaryParcel91
FultonCountyBoardofAssessorstaxsummaryParcel92
FultonCountyBoardofAssessorstaxsummaryParcel93
LetterfromGeorgeH.MillerofPeiCobbFreed&PartnersArchitectsdatedDecember3,2007
PeiCobb
Freed
&
Partners
Architects
proposal
dated
3/17/08
AerialPhotographofSurroundingArea
MidtownProjectCallNotesdatedSeptember5,2007
RadiusMapbyEnvironmentalDataResources
PropertyAreaLocationMap
PropertyTaxPlatMap
SpreadsheetofCulturalVenuesinMidtownAtlanta
NineHistoricPicturesof131PoncedeLeon
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BrokerProfile
BullRealtyisacommercialrealestatebrokeragefirmprovidingmarketingandacquisitionservicesacrossthe
country for institutional and private equity investors, lenders,
institutions and users of commercial real
estate.Thefirmiswellknownfortheirsuccessfulmarketingplatformandindustryleadinguseoftechnology.
Specificbrokerteamsspecializeinretail,office,industrial,apartments,land,medical,hospitality,and
specialassetservices.
BullRealtyprovidesmarketingandotherservicesfor74lendersandservicers.
GooglechoosesBullRealty.comasthenumberonewebsiteforthemostoftenusedsearchphrasefor
CommercialRealEstateGeorgia.
Bull
Realty
marketing
services
includes
videos
of
appropriate
properties.
ThefirmhoststheCommercialRealEstateShow,aNationaltalkradioshowwhichairsat10AMESTevery
Saturdayonairatbiz1190AMandonlineatwww.CommercialRealEstateShow.com.
SincepurchasinghisfirstinvestmentpropertyintheOrmewoodParkneighborhoodin1995,Danielhashada
passionforintownAtlantarealestate.DuringanMBAprogramattheGoizuetaBusinessSchoolatEmory
University,he
decided
to
make
acareer
out
of
what
started
as
ahobby.
At
Emory
he
was
the
founder
and
the
firstPresidentoftheGoizuetaRealEstateGroup.UpongraduatingDanielmanagedacquisitionsfortheUK's
topinstitutionalrealestateinvestmenthouse,INGBaringsinLondon.UponarrivalbackinAtlanta,Daniel
joinedBullRealtyduetothefirm'sinnovativemarketingandreputation.
DanielhassinceearnedPartnerstatusandaCCIMdesignationwhilebeingatopproducerforthepast10
yearsatBullRealty.Hehasexceededclient'sexpectationsinhundredsofprojectsspecializingincreative&
mixedusespaceinintownAtlantasubmarkets.InhissparetimeDanielenjoystimewithhiswifeandfour
daughters.Heisactivelyinvolvedinchurchleadership,andisanavidsurfer&wakeboarder.
DanielLatshaw,CCIM,MBA
Partner
404.876.1640x127
[email protected]
BullRealty,Inc.
50GlenlakeParkway,Suite650
Atlanta,GA 30328
