News
TPA FINDS A HAVEN
October 21, 2010
| One bank's misfortune's is another landlord's prize. Especially when it's picked up from the FDIC. |
 |
| TPA Investments—an affiliate of TPA Realty Services—nabbed a former bank branch in Johns Creek from the FDIC. TPA purchased the former Haven Trust Bank, a 12,800 SF building at 6700 McGinnis Ferry Rd. for an undisclosed sum. As part of the sale, the firm also picked up an adjacent 4.6 acres of retail-zoned land, TPA's Bryan Heller tells us. The company is intimately familiar with the property, having fee-developed it for Haven Trust back in 2006, two years before the FDIC took over the bank. The all-cash purchase (which closed in less than 20 days) makes sense for the company, Bryan says, since it's in the midst of TPA's other Johns Creek land holdings. ?Even if we have to hold it for awhile, we will find someone for this building and someone for this land,? he says. |
