Twin Lakes Rural EB-5 Project April 2023 Update: Strong Sales Despite Rising Interest Rates

In an economic climate marked by elevated interest rates and uncertainties, the EB5AN Kolter Twin Lakes Georgia rural EB-5 project posted another record month of strong home sales to active adults seeking affordable, new retirement homes. While many other new real estate development projects face uncertainty and increased risk of failure in the current rising interest rate environment, the Twin Lakes project is a clear beacon in the current economic “storm” with continued strong sales.

The month of April 2023 is clear proof of the project’s financial feasibility and business model. A total of 16 homes were sold—an impressive figure considering the challenging economic environment in the United States. April 2023 sales also exceed the average number of sales in 2022 of 14 home sales per month. Additionally, the project developer, The Kolter Group, completed and fully delivered 13 homes to new buyers. This clearly demonstrates that not only are new home sales continuing at a strong pace, but also that Kolter is able to meet the demand by actually finishing and delivering nearly the same number of new homes sold in the same month.

April 2023 sales numbers contribute to the project’s overall achievement of 511 homes sold in total with 359 of these home sales already constructed and successfully closed.

This prompts us to ask: What’s fueling Twin Lakes’ extraordinary success? An exploration of the project’s unique strengths reveals a blend of strategic demographic targeting, an ideal location, the expertise of a renowned developer, and other factors.

Factors Behind Twin Lakes’ Continued Success

A High-Demand, Wealthy Target Market

Twin Lakes has astutely positioned itself as a master planned community for active adults aged 55 and over. This demographic focus on senior citizens, a group known for their financial stability, has been a driving factor in the project’s success. Retirees often have substantial savings, making them an ideal market for real estate.

This age group is rapidly growing and has significant buying power, yet there are relatively few communities that cater specifically to their needs.

At Twin Lakes, home buyers are required to make a non-refundable deposit, demonstrating their financial commitment. It’s noteworthy that approximately half of these retiree buyers close on their home purchases with all cash, bypassing the need for mortgages.

This financial robustness has led to a vast majority of homes in Twin Lakes being pre-sold before construction starts.

Location

Location plays a critical role in real estate, and Twin Lakes checks this box emphatically. Its proximity to Atlanta ensures residents enjoy the benefits of a vibrant city life while residing in a peaceful, age-restricted community.

However, the appeal extends beyond Atlanta. The Southeast region, as a whole, is witnessing a population surge, with an influx of individuals relocating from areas like California’s Bay Area. This demographic shift is driving increased demand for quality housing options like Twin Lakes, further bolstering its sales and popularity.

The Kolter Group: An Ideal Developer

The third pillar of Twin Lakes’ success is the reputation and commitment of its developer, the Kolter Group. As one of the largest private developers in the United States, Kolter brings a wealth of experience and a track record of excellence.

Since 1997, Kolter has invested in more than 180 projects with expected value in excess of $24.0 billion, including more than 20,000 single-family homes. Kolter has successfully repaid billions of dollars of debt and has never failed to repay a loan. Kolter’s reputation and performance have provided for strong, long-standing relationships with leading financial institutions in the United States. Kolter has secured loans from 5 of the 10 largest banks in the United States, and as of year-end 2022, had more than $1.5 billion of loan commitments from lenders, including Wells Fargo, PNC, and Regions Bank.

Amenities

The unique amenities Twin Lakes offers contribute to its success. The development provides a range of lifestyle amenities such as a new clubhouse, walking trails, and recreational facilities, which are tailored to the interests and needs of active adults. It’s a community that offers not just a home, but a lifestyle, and this has been a significant draw for potential buyers.

A Financially Strong EB-5 Project

It’s worth noting that Twin Lakes’ success has been achieved in the face of rising interest rates. This is a testament to the financial strength of its buyers and the attractiveness of the project. Even in a more expensive borrowing environment, Twin Lakes has been able to secure a revolving senior loan to continue construction and keep selling more units.

The story of Twin Lakes is one of triumph in the face of adversity. Its blend of strategic demographic targeting, an ideal location, the reputation of a seasoned developer, and a product that meets a clear market need has insulated it from economic turbulence and positioned it for exceptional growth. As the project continues to develop, Twin Lakes Georgia is set to remain one of the most compelling rural EB-5 projects available, demonstrating what’s achievable when strategy, location, and expertise align.

The success of Twin Lakes is more than a positive example in a challenging economic landscape; it’s a masterclass in strategic planning, execution, and resilience. It’s a reminder that even in uncertain times, real estate development projects can thrive with the right approach and a clear understanding of their market.

With all EB-5 jobs already created and rural TEA designation, Twin Lakes is not only a financially strong project; it also offers a safe path to a U.S. Green Card for EB-5 investors.

Schedule a free consultation with EB5AN to learn more.

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