On Wednesday, October 29, 2008, two days before the loan deadline, the Atlanta City Council voted to issue $64.5 million in bonds to support the Beltline, with $45 million of that amount going to pay off Wayne Mason’s short-term loan. Terri Montague then negotiated to buy out Barry Real Estate for $3.5 million — $1.2 million more than Barry had put into the deal, including interest payments. Montague was clearly under immense pressure for ABI to gain sole control of the property.

Add Comment

Your email address will not be published. Required fields are marked *