Twin Lakes Georgia, a single-family active adult home development for seniors and retirees near Atlanta, Georgia, remains one of the most successful EB-5 projects on the market. Part of what makes this project a great option for EB-5 investors is its consistently strong sales due to strategically targeting older, more affluent buyers. This target market is much less impacted by the increased interest rates because of their ability to make larger down payments or buy the home entirely with cash.
Twin Lakes is being developed by The Kolter Group. Kolter is one of the largest homebuilders in the Southeast United States has built more than 20,000 single-family homes. Their Cresswind brand focuses on building active adult communities like Twin Lakes. Kolter’s market knowledge and ability to perform in a difficult economy has driven this project’s financial success.
Twin Lakes Georgia was named the 55+ Housing Community of the Year at the 2023 Annual OBIE Awards gala. In addition, they also won Gold awards in Best Landscape Design and Best Amenity.
As a testament to the community’s award-winning offerings, Twin Lakes has kept up a strong, consistent sales volume throughout 2022 and 2023.
In December 2023, there were 4 new home closings and 9 new homes sales, continuing the strong momentum.
Strong sales result in more than just profits, it means job creation for EB-5 investors. Financial success and job creation are the two key factors that make Twin Lakes one of the safest EB-5 projects available. EB-5 investors can have confidence they will be repaid and that enough jobs will be created for them to qualify for Green Cards.
In this article, we explain the reasons behind Twin Lakes’ exceptional success in a high-interest-rate environment.
December 2023 Sales Data for Twin Lakes
Twin Lakes Continues Strong Sales Despite Elevated Interest Rates
The Reason for Strong Twin Lakes Home Sales
- Kolter: The #1 Active Adult Homebuilder in Atlanta
- Ideal Location and Amenities for Active Adults
- A Wealthy Target Market Unaffected by Rising Interest Rates
Learn More About Twin Lakes
December 2023 Sales Data for Twin Lakes
- 9 new home sales in December
- 4 new home closings in December
- 589 homes sold in total
- 453 homes closed in total
Twin Lakes Continues Strong Sales Despite Elevated Interest Rates
The Federal Open Markets Committee has held the federal funds target rate steady at a range between 5.25%-5.5% since July 2023. Mortgage rates have been increasing over previous months based on the forecast of an elevated federal funds rate for a prolonged period. However, after mortgage rates surpassed 8% at the end of October, mortgage rates have retreated. The major driver of this decrease in borrowing costs is that inflation is cooling which means the Federal Reserve could wrap up its hiking cycle sooner than expected.
According to Bankrate, as of January 1, 2024, the average rate on a 30-year, fixed-rate mortgage was 6.99%. On December 1, 2023, the average rate was 7.66%.
The Reason for Strong Twin Lakes Home Sales
Kolter: The #1 Active Adult Homebuilder in Atlanta
In 2022, The Kolter Group was the largest active adult single-family homebuilder in the Atlanta metro area with a 17% market share – ahead of Lennar, PulteGroup, and DR Horton. Recently, both Lennar and DR Horton announced a major investment from Warren Buffet’s holding company Berkshire Hathaway – a testament to the current attractiveness of the new homebuilding market.
The company’s projects, particularly its Cresswind brand for active adults over 55, have been recognized nationally. Twin Lakes is a Cresswind-branded community.
Kolter has invested in over 180 projects worth over $24 billion and is led by an experienced team with over 200 years of collective experience in real estate.
The company has also received numerous accolades and awards. Among these, it has been named one of the top 25 largest private single-family home builders in the U.S.
Kolter has a strong reputation and excellent underlying financials. The company has been able to secure loans from five of the 10 largest banks in the United States. It has over $1.5 billion of loan commitments from major lenders.
The company has an impeccable track record of repaying billions of dollars in debt. In its 25+ year history, Kolter has never failed to repay a loan or complete a project.
Kolter and EB5AN have worked together on 10+ prior EB-5 projects. All prior Kolter–EB5AN projects have either been completed as planned or are on track to complete successfully. All EB-5 funding in these projects has either been repaid or is in good standing.
Ideal Location and Amenities for Active Adults
Seniors and retirees who are looking for new housing often want to be close to a major urban center. Living close to a large city gives them access to healthcare, transportation, shopping, and other key services and amenities.
Twin Lakes is only one hour away from Hartsfield–Jackson Atlanta International Airport. This airport is a central transportation hub and home to Delta airlines. The Atlanta metro area is also known for its world-class healthcare.
In addition to having access to Atlanta and other local businesses, Twin Lakes offers an appealing list of on-site amenities. These include a state-of-the-art clubhouse, events spaces, and a variety of athletic and recreational facilities. Many of these amenities are already completed and open to residents.
A Wealthy Target Market Unaffected by Rising Interest Rates
Twin Lakes is targeting a fast growing and affluent buyer segment—aging baby boomers. With industry average move-in age of 72, the active adult segment is right at the forefront of the baby boomer wave. Historically, 55+ age-restricted communities command strong premiums over market rate housing. In addition, since residents are predominantly former homeowners, they have built significant equity in their previous home.
Baby boomers are the wealthiest demographic in the United States, with significant buying power due to their ability to make larger down payments when purchasing homes. According to Fortune, baby boomers housing wealth totals $18 trillion—more than triple the amount owned by millennials.
As of last year, baby boomers reclaimed their place as America’s top homebuying group taking away the title held by millennial homebuyers from 2014 until last year.
With savings and equity at their disposal, many seniors make substantial down payments. And, in many cases, seniors pay for new homes in cash, without the need for a mortgage.
About 50% of buyers in Twin Lakes pay in cash instead using a loan.
Because Twin Lakes has strategically targeted seniors, it will continue to benefit from their buying power, despite the higher cost of borrowing.
Learn More About Twin Lakes
To learn more about the EB-5 immigration process and how Twin Lakes can offer your family a safe path to U.S. immigration, schedule a free consultation with EB5AN.
