Michael Gilmore, a black real estate entrepreneur and graduate of Morehouse College is founder and Fund Manager of Gilmore Homes – Gilmore Loans, LLC. The black-owned fintech, proptech and consumertech services company recently qualified as a Regulation A+ Tier II, pre-IPO real estate crowdfund, reports Blacknews.com. The designation allows the company to sell $50 million in Class A stock securities thru its escrow and transfer agent, Securities Transfer Corporation located in Plano, Texas, according to Businesswire.com.
Gilmore Homes – Gilmore Loans, LLC stock securities can now be sold to accredited and non-accredited investors to build and have ownership interest in single-family homes, apartment buildings, condominiums, mixed-use developments,, hotels, shopping centers, chain dollar stores, restaurants and other commercial properties. Gilmore is planning a “100-unit, $10 million single family rental community” in Atlanta, single-family properties expected to be sold at $99,900, and a $200 million,”50-story mixed-use development” called Gilmore Towers that will become the largest black-owned multi-use commercial facility in the world reports Blacknews.com.
Michael Gilmore founded Gilmore Homes – Gilmore Loans, LLC in 2015 in Hattiesburg, Mississippi. In 2018, the startup company was established in Atlanta, Georgia. During Gilmore’s rise to success he experienced the “commercial color glass ceiling” as he attempted to build Mall of Mississippi (MOM). “I couldn’t get one department store to commit to the project to break ground, so I founded my own, including over 85 companies to anchor the mall and developments”, he said.
Gilmore confirmed that he is still being denied the equity needed from venture capitalists and corporations. But he believes since the death of George Floyd and others, the ‘haves and have nots’ are uniting to invest and empower the masses in America. For more information visit the website https://www.michaelgilmorecompany.com.