O'Donnell/Atkins Company Closes Massive Land Transaction in Tracy Close to San Francisco and the Silicon Valley: Tracy Hills Master Planned Community, the Largest Remaining Property in Tracy, Sold to Sacramento's Leading Developer

Apr 02, 2001, 01:00 ET from O'Donnell/Atkins Company

    SAN RAMON, Calif., April 2 /PRNewswire/ -- On March 29, 2001, the
 O'Donnell/Atkins Company completed the sale of Tracy Hills, the largest parcel
 of undeveloped land in the City of Tracy, California, within close driving
 distance of the Silicon Valley and San Francisco.  O'Donnell/Atkins brokered
 the transaction between AEW Capital Management, an affiliate of Metropolitan
 Life Insurance based in Boston with approximately $9.3 billion under
 management, and AKT Development, the pre-eminent land development firm in the
 Sacramento region for the past three decades.  O'Donnell/Atkins has
 established itself as the dominant land brokerage firm in California and
 continues to expand rapidly throughout the state, having recently opened
 satellite offices in San Ramon and Victorville from its base in Costa Mesa.
 The Tracy Hills transaction is the latest in a string of successful land sales
 arranged by the firm in Northern California, including recent closings on
 master planned communities in Hercules and Stockton in addition to current
 escrows throughout the region.
     The Northern California office of O'Donnell/Atkins is led by Kerry
 Zimmerman, who introduced AKT to the Tracy Hills asset on behalf of AEW.  In
 addition to Tracy Hills, O'Donnell/Atkins has recently closed transactions at
 the Weston Ranch master planned community in Stockton and at Hercules Point in
 the city of Hercules.  Between its Northern and Southern California offices,
 O'Donnell/Atkins completed approximately $700 million worth of land
 transactions in the 2000 calendar year, including several of the most
 high-profile and highly valued properties in the state.  The company is
 expanding its presence in Northern California rapidly, with current listings
 in such diverse geographic areas as Brentwood, Hercules, Richmond, Clovis, and
 Stockton.
     The Tracy Hills masterplan consists of approximately 6,175 acres and is
 located on both sides of Interstate 580 between Interstates 5 and 205 to the
 west of downtown Tracy.  In addition to residential land uses, development
 plans include a Technology and Business Park designed to meet the needs of
 expanding Bay Area businesses while conveniently located near employee
 housing.  Plans also call for an 18-hole golf course and the construction of a
 "urban village" which would provide a setting for retail shopping as well as
 civic-oriented land uses that would benefit the community as a whole.
 
     AKT Development Corp. is based in Sacramento and represented by its
 Chairman Angelo Tsakopoulos and by President Eleni Tsakopoulos-Kounalakis.
 AKT has been intimately involved in a wide array of major development projects
 throughout the Sacramento region over the past three decades, including such
 well-known and highly regarded developments as Natoma Station in Folsom,
 Laguna Creek in Elk Grove, and Olympus Point in Roseville.  Tracy Hills will
 be the first significant project outside of the Sacramento for AKT Development
 Corp.
 
     AEW Capital Management L.P. is an affiliate of Metropolitan Life and is
 based in Boston with a California regional office in Los Angeles.  AEW has
 provided real estate-related investment advisory services for two decades and
 manages an extensive portfolio of commercial and residential property assets
 throughout the United States with an aggregate value of approximately
 $9.3 billion.
 
     For more information, please contact Kerry Zimmerman of the
 O'Donnell/Atkins Company at 925-901-1394.
 
 

SOURCE O'Donnell/Atkins Company
    SAN RAMON, Calif., April 2 /PRNewswire/ -- On March 29, 2001, the
 O'Donnell/Atkins Company completed the sale of Tracy Hills, the largest parcel
 of undeveloped land in the City of Tracy, California, within close driving
 distance of the Silicon Valley and San Francisco.  O'Donnell/Atkins brokered
 the transaction between AEW Capital Management, an affiliate of Metropolitan
 Life Insurance based in Boston with approximately $9.3 billion under
 management, and AKT Development, the pre-eminent land development firm in the
 Sacramento region for the past three decades.  O'Donnell/Atkins has
 established itself as the dominant land brokerage firm in California and
 continues to expand rapidly throughout the state, having recently opened
 satellite offices in San Ramon and Victorville from its base in Costa Mesa.
 The Tracy Hills transaction is the latest in a string of successful land sales
 arranged by the firm in Northern California, including recent closings on
 master planned communities in Hercules and Stockton in addition to current
 escrows throughout the region.
     The Northern California office of O'Donnell/Atkins is led by Kerry
 Zimmerman, who introduced AKT to the Tracy Hills asset on behalf of AEW.  In
 addition to Tracy Hills, O'Donnell/Atkins has recently closed transactions at
 the Weston Ranch master planned community in Stockton and at Hercules Point in
 the city of Hercules.  Between its Northern and Southern California offices,
 O'Donnell/Atkins completed approximately $700 million worth of land
 transactions in the 2000 calendar year, including several of the most
 high-profile and highly valued properties in the state.  The company is
 expanding its presence in Northern California rapidly, with current listings
 in such diverse geographic areas as Brentwood, Hercules, Richmond, Clovis, and
 Stockton.
     The Tracy Hills masterplan consists of approximately 6,175 acres and is
 located on both sides of Interstate 580 between Interstates 5 and 205 to the
 west of downtown Tracy.  In addition to residential land uses, development
 plans include a Technology and Business Park designed to meet the needs of
 expanding Bay Area businesses while conveniently located near employee
 housing.  Plans also call for an 18-hole golf course and the construction of a
 "urban village" which would provide a setting for retail shopping as well as
 civic-oriented land uses that would benefit the community as a whole.
 
     AKT Development Corp. is based in Sacramento and represented by its
 Chairman Angelo Tsakopoulos and by President Eleni Tsakopoulos-Kounalakis.
 AKT has been intimately involved in a wide array of major development projects
 throughout the Sacramento region over the past three decades, including such
 well-known and highly regarded developments as Natoma Station in Folsom,
 Laguna Creek in Elk Grove, and Olympus Point in Roseville.  Tracy Hills will
 be the first significant project outside of the Sacramento for AKT Development
 Corp.
 
     AEW Capital Management L.P. is an affiliate of Metropolitan Life and is
 based in Boston with a California regional office in Los Angeles.  AEW has
 provided real estate-related investment advisory services for two decades and
 manages an extensive portfolio of commercial and residential property assets
 throughout the United States with an aggregate value of approximately
 $9.3 billion.
 
     For more information, please contact Kerry Zimmerman of the
 O'Donnell/Atkins Company at 925-901-1394.
 
 SOURCE  O'Donnell/Atkins Company