Healey Weatherholtz Properties – Equity Financing Negotiated in Award-Winning Turner Field Redevelopment
Healey Weatherholtz is an Atlanta development company that focuses on retail and mixed-use projects. It has partnered with Carter and Oakwood Development to transform a large portion of the 68 acres at Turner Field, the former home of the Atlanta Braves near downtown Atlanta. Plans call for private student housing, multifamily residential and retail development. Georgia State University also bought part of the property and controls the stadium, which will be converted for football. The Atlanta Business Chronicle selected the Turner Field redevelopment as Best Overall Deal in its 2017 Best in Atlanta Real Estate Awards. AGG’s Real Estate Private Equity Group (REPEG), after representing Healey Weatherholtz in a previous project, Shops Around Lenox, was engaged to negotiate multiple joint-venture agreements associated with the Turner Field project’s equity financing and private sector development.
REPEG negotiated Healey Weatherholtz’s portion of the equity financing required to participate in the project. In the course of the negotiations, REPEG attorneys identified and anticipated key issues that were important to the client. Acquisition of the property from the Atlanta Fulton County Recreation Authority closed in January 2017. The joint venture, led by Carter, purchased 16 acres and is ground-leasing another 13.5 acres from Georgia State University.
The Turner Field redevelopment will take several years to build out. As it progresses, Arnall Golden Gregory will continue to represent Healey Weatherholtz. The project has been described as a once-in-a-lifetime opportunity to transform a large, historic part of the city.
- Matthew T. Harris
- Tanner D. Ivie
- Zach D. Wilson