A&T Management has been acquiring developed lots for their construction company rather actively in the last 12 to 18 months. Another large acquisition has taken place. Windy and Southland Trace, both represented by Charles “Windy” Gladney sold A&T Management the rest of their holdings in Summerset subdivision for $5.2 million about a month ago. Summerset is located off Duplessis Road in Prairieville. According to Gladney, the acquisition included 91 completed lots and 110 lots that had been platted and approved by the parish. Of the 110 lots, approximately 40 of the lots had sewer available, and most of the drainage and site work had been completed for the remainder. A&T Management has been successful in constructing and selling single family homes in the $150,000 to $225,000 range. In November 2008, a related company, Vicknair Builders, purchased 20 lots in Essen Terrace subdivision, and was able to develop all 20 lots with residences and sell them. This strategy seems to be working relatively well, and A&T Management should use the same business plan to construct less expensive residences on the new property acquired in Summerset.
(Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or TCook@cookmoore.com.)
