Ashley Hall, a 13 lot residential subdivision, is located approximately 4.8 miles from the highly developed Crabapple Village intersection of Birmingham Highway and Crabapple Road, Ashley Hall enjoys an excellent location in southeastern Cherokee County with easy access to Milton, Roswell and Hickory Flat. The lots sizes range from 2.00 to 2.74 acres. This submarket is one of the most sought after in the North Fulton/Cherokee county area.
Piedmont identified the opportunity to acquire and re-sell these attractive lots and raised equity and debt capital for the investment in just over 30 days. Piedmont subsequently purchased the lots from the FDIC controlled lender in February 2013.
In May 2013, Piedmont successfully contracted with one of North Fulton’s most successful and respected builders for a takedown schedule of the lot inventory over 12 months at a price that exceeded the pro-forma return targets.