Whispering Lake

Whispering Lake

Cumming, GA
Residential Subdivision

Purchase
This property consists of 163 single-family fully developed lots north of Atlanta. After the project was developed, the housing market collapsed and the investment basis was not sustainable at the pricing that builders can afford to pay in today’s market. TRG negotiated an acquisition of the property well be;ow replacement costs.

Value Creation
The property originally had 163 lots and TRG utilized two of the lots to plan for an amenity center with a pool available for use by the community’s residents. This added attraction for the community, along with TRG’s low acquisition basis, helped TRG negotiate offers with homebuilders for a scheduled takedown of lots within a three year period for a total value of $6.5 million in sale proceeds.

With a homebuilder acquiring lots on a scheduled takedown, the investment immediately starts generating cash with all invested capital to be returned within two and half years.