Atlanta, GA (Sept. 26, 2011) - Batson-Cook Realty, an Atlanta-based real estate brokerage and property management company, has facilitated the purchase of almost 1,300 residential lots in the first two quarters of 2011.The team of Andy Ulsh (top right photo) and Norm Richie (top left photo) has helped investors acquire more than 130 assets from six different banks and has assisted with the purchase of nearly 1,300 residential lots in the greater Atlanta metro area, with more than 700 more lots under contract or in negotiations to purchase between now and the end of the year.
“There is movement despite the reports,” said Ulsh. “It is indicative of where we are in the current real estate market.”
The partnership illustrates the current stage of the recovery. Improved balance sheets have allowed banks to liquidate distressed assets. However, due to a stagnant economic recovery consumers are not in a position to buy. A marketplace has been created for investors to pick up the assets at a wholesale price, which they will turn around and sell to the end user as the market picks up.
Batson-Cook Realty, a wholly owned subsidiary of Batson-Cook Development Co., has leveraged its relationships with banks, investors, and builders to remain at the fore of the current real estate cycle.
Since the downturn began, the team led by Andy Ulsh has provided consulting and due diligence for approximately 52 banked owned properties and has served as a third party manager and done sales and leasing for 15 bank owned properties including office complexes, retail centers, car dealerships and general commercial buildings.
Further Batson-Cook Realty has sold more than 20 bank-owned subdivisions over the last 18 months.
“We are uniquely qualified to help these banks through this inventory,” said Richie. “Few companies are able to offer the types of services at the same level. That makes us attractive to these banks which need guidance in managing and disposing of these assets.”
Batson-Cook Realty also provides property management and sales and leasing services for several in-house Batson-Cook Development Co. projects including Cleveland Town Center (lower right photo) in Cleveland, Tenn.; Augusta Riverfront Center (lower left photo) in Augusta, Ga., and a mixed-use joint venture project in downtown Athens, Ga.
Batson-Cook Realty, LLC is a commercial real estate brokerage and property management company.
A wholly owned subsidiary of Batson-Cook Development and a subsidiary of Kajima USA, Batson-Cook Realty, LLC is based in Atlanta and focuses primarily on the brokerage of residential and commercial land and lots, owner and tenant retail and office representation, property management, and real estate analysis and consulting.
To learn more about Batson-Cook Realty, visit www.batsoncookrealty.com.
Contact
Thornton Kennedy
Batson-Cook Realty
(404) 210-0363
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