Altogether, the transactions will add more than 800 residences to the company’s portfolio, bringing it to almost 2,300 homes across 17 sites. The build-to-rent communities are in development and are set to open this year and next, according to a press release.
“The addition of these six communities supports our strategy of expansion by creating new communities of high-quality, thoughtfully designed homes at reasonable price points in some of America’s fastest-growing housing markets,” Quinn CEO Richard Ross said. “We are excited to continue our strong growth trajectory, welcome new residents to the Quinn family and help address the urgent need for additional housing supply in the regions we operate in.”
In the Atlanta area, Quinn acquired Vista Lakes in Dallas, Towns on Church in Decatur and Winder Retreat in Winder.
Vista Lakes will offer 52 three and four-bedroom single-family homes with resort-style amenities when its first units open in June. Towns on Church will include 45 three- and four-bedroom multi-story townhomes and is scheduled to begin delivery by the end of the year, and Winder Retreat will add 232 three and four-bedroom homes averaging 2,000 square feet to the portfolio when it’s ready for occupancy in the first quarter of 2023.
In Florida, Quinn acquired Eleven Oaks in Eustis. The Orlando-area community will consist of 35 three-bedroom, two-bathroom detached houses and 34 two- and three-bedroom townhomes. Eleven Oaks will be completed in June.
Quinn also acquired Ashcroft at Colonel Creek in Columbia, S.C. The community will consist of 251 residences: 199 three- and four-bedroom townhomes and 52 three-bedroom single-family homes. Ashcroft will be delivered in the third quarter.
Finally, the company acquired Isabella Courts, which is located in Leland, N.C., near Wilmington. The asset will include 169 three- and four-bedroom homes and will be available in the first quarter of 2023.