Thursday, November 19, 2020

Black-Owned Firm Issues $50M in Stock

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BLACK REAL ESTATE ENTREPRENEUR QUALIFIES TO ISSUE $50M IN CLASS A STOCK AFTER BEING DENIED BY VENTURE CAPITALISTS

Nationwide -- Real estate technology entrepreneur Michael Gilmore, the founder and fund manager behind Gilmore Homes – Gilmore Loans LLC, a proptech, fintech and consumertech company encompassing real estate, technology, financial services, and consumer goods based in Atlanta, Georgia, recently made history as only the third Black-owned company to be qualified by the United States’ Securities and Exchange Commission (SEC) as a Regulation A+ Tier II.

The company plans to design, develop, build, own and manage single-family homes, multifamily apartments, condominiums, retail stores and restaurants, shopping centers, high-rise mixed-use developments, e-commerce, department stores, chain of $1 stores, laundromats, banks, radio and television stations, consumer electronic products such as televisions, stereos, and much more.

Despite having $50,000,000 in valuable Class A Stock available to both accredited and nonaccredited investors, Gilmore acknowledges that he is still being denied the crucial equity needed for growth and scale by venture capitalists, institutional funds, and corporations, still after George Floyd’s death and the promise of addressing inequality and access to capital.

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“Like many African Americans and Latinx entrepreneurs, there is still a high bar to climb in getting the millions needed for scale and growth by venture capitalists,” said Michael Gilmore, a graduate of Morehouse College. “Billions are being raised for single-family rentals, homeownership and tech-enabled property development. Yet there are no Black-owned real estate tech companies, who designs and builds homes, getting any capital, none! Thus, I will have to turn to my Black community to sell equity in my company, so that we can actually build and finance our own homes without any help.”

Gilmore Homes – Gilmore Loans, LLC is first planning a 100-unit, $10,000,000 single family rental community in Atlanta, followed by scaling from Georgia to Florida, Texas, Louisiana, Mississippi, Alabama, Tennessee, South and North Carolina, for Phase I. The rental units will lease for $999.00 per month (direct, government vouchers accepted). Then, the company will build and finance small Gilmore Homes for $99,900, 3.5% down, 3.0% interest, over a 15-year term only, with mortgage notes at $795.00 per month, regardless of credit. The modern/contemporary homes will encompass 900 square feet, 3 bedrooms, 2 bathrooms, all-electric, featuring tech-enabled, SMART automated access, ENERGY efficient power and appliances, SOLAR panels, GREEN humidity controlled indoor air, filtered drinking water, LED lighting, HEPA air filters, and further smart home internet systems and controls, home security features, and a forthcoming APP to control entry, for the homes will be keyless and digital, controlled by your phone and a gadget.

Single-family homes notwithstanding, Gilmore Homes – Gilmore Loans, LLC is also designing Gilmore Tower, a $200,000,000 50-story mixed-use development that will become the largest African American complex in the world featuring 120 multifamily apartments, 100 condominiums, a 50-room, all-suite luxury boutique hotel with Rolls Royce services, a 1,000 seat performing arts center, a 6-level shopping center featuring 4-Black owned department stores, the first of its kind in the world, and office pavilion with indoor ice skating rink, movie theater and grocery store, a new Black university Atlanta Academic & Technology University (Atlanta A&T), when approved by the State of Georgia, and a future nationwide, depository and investment bank Micasu, Gilmore & Wung, along with the company’s 85 other subsidiaries.

For more information about the company and its Class A Stock, please visit the website at MichaelGilmoreCompany.com

For press inquiries, contact info@michaelgilmorecompany.com

Follow Gilmore Homes - Gilmore Loans, LLC on social media at:

Facebook - @GilmoreHomesGilmoreLoans
Twitter - @llcgilmore
Instagram - @gilmorehomes__gilmoreloans


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Posted by community events coordinator, Nzinga Lonstein Austin, is a prolific blogger who writes on the entertainment industry and issues for people with developmental and physical challenges.

She is presently in high school looking to have a career in video, film, and media. You can see more of her entertainment writing on Lonstein Movies.


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