In 2019, Southeast Capital Companies, LLC (SEC) entered into an assemblage contract of 4 parcels and 2 commercial outparcels totaling approximately 20 acres in Lawrenceville, Georgia. While under contract, SEC successfully rezoned the 4 parcels to develop 266 Class “A” Apartment Homes (apartment site). The apartment development would have included first class indoor and outdoor amenities.
The land closing was scheduled for December 2020. Shortly prior to closing, SEC was approached to sell the apartment site, and ultimately agreed to sell via an option contract. SEC successfully closed on the overall site, and subsequently closed on the option contract by selling the apartment site while retaining the 2 commercial outparcels.