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News Breaks | | | | January 10, 2013 | | 08:31 EDT |  | RPI | Roberts Realty announces sale of Peachtree Parkway property
Roberts Realty announces that the sale of its 20 acre Peachtree Parkway property to Lennar Multifamily Investors for a net sales price of $7.09M is scheduled to close on February 7. Lennar completed its due diligence on the Peachtree Parkway property on January 4, and in accordance with the terms of the sales contract its $300,000 earnest money deposit is now non-refundable. The company intends to use the $7.09M of sale proceeds to pay off our Peachtree Parkway land loan, which will significantly reduce the company's debt. | |
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