Quinn Residences Acquires Three Communities in Georgia

Atlanta-based provider of best-in-class, reasonably priced rental homes expands portfolio to nearly 1,500 homes

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Oct 18, 2021, 11:04 ET

ATLANTA, Oct. 18, 2021 /PRNewswire/ -- Quinn Residences ("Quinn" or the "Company"), a leading owner and operator of dedicated, newly built communities of single-family rentals, today announces the acquisition of three future communities throughout Georgia: Mulberry at Rice Hope near Savannah; Lovejoy Villages in Lovejoy, Georgia; and The Hayward in Carrollton, Georgia. The purchases will increase Quinn's portfolio to approximately 1,500 homes.

"The addition of these three communities of high-quality homes will enhance our ability to meet robust demand in these high-growth markets for additional space, flexibility and amenities," said Richard Ross, Chief Executive Officer of Quinn Residences. "We look forward to providing additional capacity in key markets through the remainder of this year and into 2022 as we expand our footprint throughout the Southeast."

Lovejoy Villages will comprise 132 three- and four-bedroom townhome units in Lovejoy, Georgia, located just 25 miles south of midtown Atlanta. The Hayward community is located in Carrollton, Georgia, close to the University of West Georgia and Interstate 20, providing convenient access to western Atlanta and surrounding suburbs. The community will have 263 single-family three- and four-bedroom homes. The Lovejoy Villages and The Hayward expect delivery of their first homes around the fourth quarter of 2022.

Mulberry at Rice Hope will total 266 single-family three and four-bedroom detached homes when completed. Located just north of Savannah in Port Wentworth, Georgia, the neighborhood is part of the largest master-planned community in the Coastal Georgia region, which will bring a new high school and grocery store to the area. Phase I, consisting of 29 homes, will be available in the first quarter of 2022.

"Georgia's strong economic growth, attractive cost of living and good weather all makes it an appealing place to live and work, evidenced by the strong level of inbound migration to the state," adds Ross. "We expect this migration trend to continue, and we are excited to provide best-in-class, reasonably priced rental options for residents across the state and the broader Southeastern region."

Quinn Residences now has eleven existing communities throughout the Southeast in Georgia, Florida and the Carolinas. Each community is built with the modern resident in mind, with pet-friendly policies, upgraded appliances and world-class amenity packages. The Company recently announced the closing of more than $750 million of committed equity from investment partner, Conversant Capital LLC, to develop its single-family rental communities in the Southeastern United States. The investment well exceeded the Company's previously announced target of $600 million.

About Quinn Residences
Quinn Residences is a privately held real estate operating company focused on acquiring, developing, and operating dedicated single-family rental communities located primarily in the Southeastern United States. Quinn develops exceptional neighborhoods believing that better living starts with a great neighborhood, fantastic amenities, and a no-maintenance way of life. For more information, visit https://live-quinn.com/, call 866-784-6673 (866- QUINNRE), or email [email protected].

Media Contact:
Addy Canavan
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SOURCE Quinn Residences