ATLANTA, January 5, 2017 — A team of King & Spalding capital transactions, real estate and infrastructure attorneys represented Georgia State University in its acquisition of the 68-acre Turner Field site.
Under the new public/private ownership structure, Georgia State will control 38 acres, including the stadium and the Blue Lot, formerly the Atlanta Fulton County Stadium. A Carter-led joint venture is purchasing 16 acres and ground-leasing an additional 13.5 acres from Georgia State.
The proposed development will have a mix of housing, retail, and athletic and academic space, as well as the conversion of the stadium into a new home for Georgia State’s football team. A future phase of Georgia State’s portion of the redevelopment is planned to include a new baseball park at the site where Atlanta Fulton County Stadium once stood.
The Atlanta Fulton County Recreation Authority, which owned Turner Field, agreed in August to sell the property for $30 million. The University System of Georgia Board of Regents approved the sale in November.
The King & Spalding team included Atlanta partners Josh Kamin, Brent Gilfedder, Les Oakes, Justin King and Floyd Newton; and Lansing Lee, Dustin Lee, Adam Ney, and Aaron Bean.
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