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Cagle bought condo from lobbyist
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| Parent(s) |
Race
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| Contributor | RP |
| Last Edited | RP Jun 14, 2018 09:21pm |
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| Category | Scandal |
| Author | Greg Bluestein |
| News Date | Thursday, June 14, 2018 11:20:00 PM UTC0:0 |
| Description | Lt. Gov. Casey Cagle bought a condo in downtown Atlanta a decade ago from a well-connected energy lobbyist who owned the unit next door.
The $97,000 condo purchase, first reported by The New York Times, involved a 2008 sale of a unit at the Landmark high-rise, which is known for “hospitality rooms” stocked by lobbyists for lawmakers. It was sold by Terry Hobbs, a veteran lobbyist who represented the natural gas firm Scana Energy.
The condo was appraised at the time for $127,800, roughly 24 percent higher than the sale value. In an interview, Hobbs pointed to other units in the building that were sold at comparable or lower prices during the volatile economic downturn of the late 2000s.
“I thought I got a very good deal on it,” he said in an interview. “I was tickled to death to be able to turn it over.” |
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