A.C.T. first invested in Atlanta, Georgia in the late-80s, with the Grandview Apartments, a 226 unit high rise condo in the Buckhead district. On its completion in 1990, we faced high interest rates, a moribund condo market, and the worst recession (at that time) in 20 years in the US real estate industry. However, instead of pulling back, we persevered with a new investment strategy. We continued investing, focusing on moderate income multi-family housing with the Julian Lecraw Company, which later became Tribridge Residential. When the apartment and condo market started to boom again in the late '90s, we were well positioned to ride the wave of condo conversions such as the 100 unit Melrose Park in Midtown.
Twenty years on, we face the financial crisis of 2008 with the knowledge that well-timed, contrarian investments in quality real estate will eventually yield outstanding returns. The number of bank failures in 2009 presents an unprecedented opportunity to acquire distressed assets at a fraction of their intrinsic value. In 2009, we start a real estate partnership, Woodbury Place Investments LLC, focusing on distressed residential lots in the metro Atlanta area.
Our expansion into the commercial/retail sector, through Atlanta Chinatown Square, has also performed admirably through good times and bad. We are gearing up to capitalize on the dysfunctional credit markets to make additional investments in this space. Anchored by our 30 years presence in the Atlanta market, we continue to invest in the multi-family residential sector, with opportunistic acquisitions in high potential, high growth markets in the US, including Atlanta, Jacksonville, Greenville, Nashville, Austin, Raleigh, Durham, Charlotte and Orlando. In addition, we have also delved into the office sector, in order to provide growing businesses space to expand themselves as well our own investments.
We also have an international presence through our parent company, A.C.T. Holdings Pte Ltd, which is based in Singapore with additional real estate investments in the UK, Singapore, Indonesia, and China.
The A.C.T. logo is a stylized pine cone. We envision that each investment we make will one day grow into a mighty, evergreen pine tree. Our mission is to ensure that every development we undertake, and every major investment we make, will be a win-win situation for our investors, customers and stakeholders.