Walton Global, a real estate investment and land asset management company, has acquired 808 acres in Georgia, which is anticipated to bring approximately 1,687 total homes to two new communities.
The company acquired two land parcels in the area. A property called Pinehills Trails with 652 acres is located in Paulding County just outside of Atlanta, and a property called Cannon Forest with 156 acres is located within the Jacksonville MSA in the city of St. Marys, Georgia.
“Greater Atlanta has consistently shown a proclivity for growth even amid the pandemic. New business opportunities and home values continue to outpace many areas in the country,” says Barry Dluzen, executive vice president of land and real estate acquisition at Walton. “To support the future of the new housing market and to accommodate the region’s accelerated expansion, we are excited to support premier home builders to bring needed home inventory to the area.”
Walton is working with a national home builder and a regional builder for Pinehills Trails to obtain final approval for 1,308 residential lots by early 2022.
Pinehills Trails is conveniently located within a 10-minute drive to nearby retail, medical, and education amenities in the city of Acworth, a 20-minute trip to major employment centers including Cobb County International Airport, Kennesaw State University, and Wellstar Kennestone Hospital, and a 45-minute commute to downtown Atlanta.
For Cannon Forest, Walton and a national home builder are working together to obtain final approval from the city of St. Marys for 379 residential lots by the end of 2021.
Cannon Forest is located just 40 minutes north of downtown Jacksonville off Interstate 95. The land is situated in the middle of St. Marys, which offers its residents all the charm of small-town living but is also a convenient 30-minute drive to the Jacksonville International Airport and 10 minutes from the Kings Bay Naval Submarine Base.
“With the expansion of the Kings Bay Naval Base, the Cannon Forest residential land parcel will help fill a void of new homes in this market area,” says Mike Doherty, senior vice president of land at Walton.
The two acquisitions add to Walton’s more than 11,000 acres of land under management in the Georgia market, and the organization continues to actively pursue additional land transactions in the area.