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ALPHARETTA, GA-Locally based ABG Development LLC has acquired the assets of Norcross-based Vintage Homes Georgia LLC, a high-end custom homebuilder in Gwinnett, North Fulton and Forsyth counties.

Vintage was formerly owned by Ron Morgan, a director and part owner of ABG Development LLC who joined ABG in 2003. The purchase price was not disclosed. “This acquisition is the next logical step for the growth of our company,” says Scott Ronning, a director with ABG. “When Ron joined ABG we discussed the need for ABG to acquire Vintage Homes at the appropriate time in ABG’s growth cycle. That point has now been reached.”

Morgan tells GlobeSt.com that he was introduced to ABG after Ronning purchased one of Vintage’s custom homes. “We discovered our companies had a lot in common,” he says. “ABG had a very strong commercial development background. While I was a custom homebuilder, I had a very strong interest in commercial development.”

ABG plans to market a select group of its townhomes under the Vintage name over the coming months. “We are in the process of retooling Vintage Homes from a custom builder into a town home developer,” Morgan says.

ABG currently has eight projects under development in the Greater Metropolitan Atlanta area with more than 1,500 residential units with an estimated market value of $190 million. They include a 139-unit apartment tear down and townhome development project in Briarwood/DeKalb County; Dave’s Creek, a 73-unit development project in Forsyth County; Vickery Downs, a 73-unit development project in Forsyth County; Atlanta Road, a 133-unit apartment tear down and town home development project in Smyrna; the Oaks at Powers Ferry, a 182-unit apartment tear down and 158-unit town home development in Cobb County; Clairmont Townhomes, 163-unit apartment tear down and 64-unit town home development in DeKalb County; Regency Woods I/Tempo Cabana, a 284-unit tear down and 18-acre development project in DeKalb County and Highland Townhomes, a 115-unit development in Smyrna.

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