Hunton & Williams LLP advised the City of Atlanta and Fulton County Recreation Authority in its multimillion-dollar agreement to sell 67-acre Turner Field to Georgia State University and its partners, Carter development group, and Oakwood Development.

The sale and purchase agreement, expected to close by December 31, 2016, is part of a larger transformation the university has planned. The purchasers are making the acquisition as a first-step in a proposed $300 million transformation that will feature housing, retail and classroom space and convert the former Braves’ stadium into a football stadium for the GSU Panthers.

Hunton & Williams’ legal team for the City of Atlanta and Fulton County Recreation Authority was led by Douglass P. Selby and included Carl Schwartz and J. R. England.

Selby, who further serves as bond counsel for the City of Atlanta and Invest Atlanta, was also instrumental in the financing of the new $1.4 billion operable-roof stadium in downtown Atlanta for the future home of the Atlanta Falcons. Last year, the Georgia Supreme Court unanimously upheld the City of Atlanta’s financing plan for the stadium, whereby the City expects to issue bonds through Invest Atlanta, its economic development agency.

The Hunton & Williams public finance practice has experience in addressing virtually every significant legal issue that affects both governmental financing and tax-exempt financing for private entities. Our lawyers have served as bond counsel, special disclosure counsel and counsel to issuers, underwriters, trustees, credit enhancers and institutional investors in transactions throughout the United States.