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Accelerated Marketing Partners Sells 27 Homes In Less Than Two Hours At Downtown Atlanta’s First Real Estate Auction


-Tribute Lofts Auction Establishes Current Market Prices For Downtown Atlanta Real Estate-

Atlanta (July 8, 2008) - Accelerated Marketing Partners (AMP) sold 27 homes for Tribute Lofts in less than two hours at downtown Atlanta’s first residential real estate auction on June 22. The auction marketing event sold 27 one-, one-bedroom-plus-den and two-bedroom homes, and conventional sales for the remaining 49 homes will begin with price points based on the auction sales results.

"Buyers were able to determine the fair market value of homes at Tribute Lofts, which resulted in amazing deals on high-end homes," said Greg Wohl, partner of The InVision Group, the developer of Tribute Lofts. “Accelerated Marketing Partners helped us achieve our goal, which was to sell multiple homes quickly and to successfully reinvigorate sales velocity.”

The program attracted more than 921 site tours in the three and a half weeks prior to the real estate auction. The 27 residences were auctioned at 1:00 p.m. at the Omni Hotel at CNN Center. All prospective bidders were required to register at the auction information center, which opened May 29, and to inspect homes and present deposits before bidding at the auction.

"The Atlanta real estate market needed a new strategy in order to move inventory, said Jon Gollinger, co-founder and east coast CEO of Accelerated Marketing Partners. “The success of this auction proved that there are still buyers out there; these prospects are just waiting for the right price point and opportunity to make a real estate purchase.”

Designed by Surber Barber Choate & Hertlein Architects, Tribute Lofts features 147 one- to two-bedroom residences with 10-ft. floor-to-ceiling windows and expansive balconies with amazing views of downtown Atlanta. Kitchens feature sleek authentic Italian cabinetry, granite countertops and GE CleanSteel™ appliances. Residences are ready for immediate occupancy.

Residents enjoy amenities such as a landscaped courtyard with a fountain, giant chess set, benches, Wi-Fi Internet access, lawn and grilling area. A rooftop “SkyPad” offers respite for homeowners with a European mineral spa and sundeck, fire pit and grilling area. Adjacent to the “SkyPad” is a “SkyLounge” community room with kitchen, Internet access, high-definition plasma televisions, and a fully equipped fitness center with skyline views and direct access to the “SkyPad”. Residents also have controlled access to the building and private parking, along with ground-floor retail.

Located in the heart of the historic Old Fourth Ward neighborhood, Tribute Lofts is at the crossroads of downtown and midtown Atlanta. Tribute Lofts is a short distance from several MARTA Rail Stations, Hartsfield-Jackson Atlanta International Airport, major attractions such as Freedom Park, Inman Park, Virginia Highlands, Little Five Points, and downtown Atlanta’s office buildings, restaurants and event venues.

For more information, please call 404-525-0507 or visit www.tributelofts.com.