Developer's property at airport included in Jan. foreclosures

Property at Newnan-Coweta County Airport, Whitlock Field, owned by Stan Thomas’ Fourth Quarter Properties, is listed in this month’s foreclosures. Also listed is the Newnan Academy of Preschool and Childcare on Millard Farmer Industrial Boulevard.
According to the foreclosure advertisements, there are four parcels owned by Fourth Quarter Properties 38, LLC. Thomas is an international real estate developer with developments across the country, including Newnan’s Ashley Park and the Fayette Pavilion in neighboring Fayette County.
One advertisement is for a 6.84-acre parcel and a 1.28-acre parcel. They are being sold to secure a note in the amount of $4,575,000. The other advertisement is for an 18.352-acre tract and a 4.03-acre tract. Those tracts are being sold to secure a debt of $1,525,000. Both notes date from April 2004.
The Newnan Academy foreclosure is for 3.10 acres and the buildings on the property.
According to Newnan Academy’s Facebook page, the center will close after Friday, but the Poplar Road location will continue to operate. The notice was posted by owner/director Jefflyn Brannon.
According to the foreclosure notice, the property is owned by Gary and Nancy Jones. The property is being sold to secure a debt of $1,845,813. The original deed dates from 2004, and was modified in March of 2011.

There are a total of 115 foreclosure-related advertisements in today’s edition of The Newnan Times-Herald.

They include several foreclosures that have already run previously, including several building lots owned by Lichty Brothers Construction.

The 115 is an increase from last month, when there were only 102. But it’s still down substantially from previous months. And, other than December’s foreclosure total, it’s the lowest total since September 2007.
Coweta County Foreclosures since Feb. 2012
• Feb. 2012 - 165 (down from 227 in 2011, or -27 percent).
• March 2012 - 164 (down from 235 in 2011, or -30 percent).
• April 2012 - 162 (up from 159 in 2011, or 1.8 percent).
• May 2012 - 214 (up from 183 in 2011, or 16.9 percent).
• June 2012 - 185 (up from 166 in 2011, or 10 percent).
• July 2012 - 224 (up from 153 in 2011, or 46 percent).
• Aug. 2012 - 160 (down from 211 in 2011, or 32 percent).
• Sept. 2012 - 163 (up from 120 in 2011, or 35 percent).
• Oct. 2012 - 165 (up from 154 in 2011, or 7 percent).
• Nov. 2012 - 140 (down from 242 in 2011, or -58 percent)
• Dec. 2012 - 102 (down from 155 last year, or -34 percent)
• Jan 2013 - 115 (down from 199 in 2012 or -57.8 percent)
(Source: The Newnan Times-Herald legal advertising department.)

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