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Twin Lakes

Covington, GA

Twin Lakes is a 53-arce parcel of land with 104 partially-finished lots in a beautiful, wooded setting in Southeast Atlanta. Located on the same road and approximately 2.5 miles southeast of our Westminster project – Twin Lakes was an FDIC-encumbered property that our group acquired in March of 2015.  The FDIC had an agreement with a large, national homebuilder to purchase this project by the end of 2014 but the company could not perform.  Our team had been following this deal closely and was able to execute on the acquisition in a very short period of time at a tremendous discount to replacement cost.  The project is on approximately 52 acres and has 104 partially-finished lots.  Our team is currently determining whether to sell the project outright to a developer or finish developing the lots ourselves and then partner with a home builder to purchase the finished lots on an agreed-upon take-down schedule.