ABC Quotes Jonathan Eady

AGG Partner Jonathan E. Eady is quoted in the Atlanta Business Chronicle in an article titled “John Williams Starting New Apartment Biz.” John Williams founded and built apartment giant Post Properties Inc. during the 1970s and 1980s, and in recent years has been in the spotlight as a financial backer of the Mansion on Peachtree, which foreclosed last February. He is also fending off lawsuits from lenders attempting to reclaim millions of dollars in defaulted bank loans. Despite this, he is now launching a new company to buy apartment communities and hopes to raise $75 million in an initial public offering with a stock listing on the New York Stock Exchange and American Stock Exchange, according to the article. The current trend in this economic climate is to buy foreclosed properties at a discount instead of developing new ones, and Mr. Eady is optimistic about Mr. Williams’s chances in attracting investment in his new company. He says it all depends on the reasons for Mr. Williams’s bank problems and his past track record of delivering on investments. To read the full article, please click here.