ROBERTS REALTY INVESTORS INC

ROBERTS REALTY INVESTORS INC

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Company Overview
Roberts Realty Investors, Inc (Roberts Realty), is a public quoted company which focuses on the development, construction, ownership, and managing multifamily apartment communities, including land held for subsequent development. The company was founded by Charles Roberts. It has registered business office based in Atlanta, Georgia.
The company operates as a self-administered, and self-managed equity real estate investment trust (REIT) that invests in and holds multifamily and other commercial real estate infrastructures in metropolitan Atlanta. It owns apartment communities as well as retail and office properties. The company’s residential properties feature upscale amenities such as garages, fireplaces, and vaulted ceilings. Its portfolio includes properties that are under development or under construction.
As of December 2005, Roberts Realty diversified its real estate activities with the acquisition of three neighborhood retail centers. The company has two residential properties totaling 403 residential units and three stabilized retail centers totaling 112,322 square feet. It also has two properties in lease-up, six properties in the planning and design phase, and one parcel of undeveloped land held for investment.
Business Summary
Roberts Realty Investors, Inc. (Roberts Realty) is a self-administered, self-managed equity real estate investment trust (REIT) that owns and operates multifamily properties. As of December 31, 2009, the Company owned and managed four neighborhood retail centers, one office building, and six tracts of undeveloped land, all of which are located in Georgia. The Company has four operating segments: the multifamily segment consists of the Addison Place multifamily community, which was sold on June 24, 2008; the retail/office segment consists of four operating retail centers and one office building; the land segment consists of six tracts of undeveloped land totaling 149.6 acres that are either under development and construction or held for investment, and the corporate segment consists primarily of operating cash and cash equivalents plus miscellaneous other assets. It conducts its business through Roberts Properties Residential, L.P., which it refers to as the operating partnership.
Description and history
Roberts Realty Investors, Inc. (Roberts Realty) is a self-administered, self-managed equity real estate investment trust (REIT) that owns and operates multifamily properties. As of December 31, 2009, the Company owned and managed four neighborhood retail centers, one office building, and six tracts of undeveloped land, all of which are located in Georgia. The Company has four operating segments: the multifamily segment consists of the Addison Place multifamily community, which was sold on June 24, 2008; the retail/office segment consists of four operating retail centers and one office building; the land segment consists of six tracts of undeveloped land totaling 149.6 acres that are either under development and construction or held for investment, and the corporate segment consists primarily of operating cash and cash equivalents plus miscellaneous other assets. Roberts Realty conducts its business through Roberts Properties Residential, L.P., which it refers to as the operating partnership. Roberts Realty is the sole general partner of the operating partnership, which either directly or through one of its wholly owned subsidiaries owns all of the Company’s properties. As of February 18, 2010, Roberts Realty owned an 82.21% interest in the operating partnership.

Retail Centers and Office Building

Roberts Realty owns four retail centers and an office building. Bassett Shopping Center, a 19,949 square foot retail center located directly across from the Mall of Georgia in Gwinnett County that is 82.9% occupied. Spectrum at the Mall of Georgia, a 30,050 square foot retail center located directly across from the Mall of Georgia in Gwinnett County that is 61.4% occupied. Addison Place Shops, a 44,293-square-foot retail center located in Johns Creek that is 28.4% occupied. Grand Pavilion, a 62,323 square foot retail center located in Johns Creek that is 24.1% occupied, which it is holding for redevelopment. Northridge Office Building, a 37,864 square foot building located in Sandy Springs that is 64.5% occupied.

Land Parcels Held for Development and Construction

As of December 31, 2009, Roberts Realty was holding five land parcels for development and construction. Northridge, a 10.9-acre site located close to the GA 400 and Northridge Road interchange in Sandy Springs that is zoned for 220 multifamily units. Bradley Park (formerly Sawmill Village), a 22-acre site located in Forsyth County that is zoned for 154 multifamily units. Peachtree Parkway, a 24.7-acre site fronting Peachtree Parkway (Highway 141) in Gwinnett County that is zoned for 292 multifamily units and located across the street from The Forum, a 580,000 square foot upscale shopping center. Highway 20, a 38.2-acre site located in Cumming that is zoned for 210 multifamily units. North Springs, a 9.8-acre site located on Peachtree Dunwoody Road in Sandy Springs across from the North Springs MARTA station that is zoned for 356 multifamily units, 210,000 square feet of office space, and 56,000 square feet of retail space.

Land Parcel Held for Investment

The Company own one land parcel, Westside, that it is holding for investment. Westside is a 44.0-acre site located on Westside Parkway in Alpharetta that is zoned for 326 multifamily units and a density of 500,000 square feet for a university education center or office. Westside is located directly across GA 400 from the North Point Mall, a 1,370,000 square foot super-regional shopping mall.

Founded by Charles Roberts

Business Line
Focuses on the development, construction, ownership, and managing multifamily apartment communities, including land held for subsequent development
Subsidiary
ROBERTS PROPERTIES RESIDENTIAL LP
Advisor
REZNICK GROUP, P.C.
IPO date
5/1996
US SIC Code
6798
Company Address
Suite 302
450, Northridge Parkway
City province or state postal code
30350, ATLANTA, GA
Phone: +1 770 394 6000
Fax: +1 770 396 0706
Country address: UNITED STATES OF AMERICA
Website url: www.robertsrealty.com