Phil W. Hudson
Atlanta Business Chronicle
Kinloch Partners LLC will buy lots in 14 subdivisions in Atlanta, bringing its total investment to nearly 200 new homes in 2014.
Kinloch Homes, an affiliate of the Spring Hill, Tenn.-based real estate investment company Kinloch Partners LLC, announced in 2013 it would build new homes in Fulton, Henry and Clayton counties.
The company also said it launched the second phase of its Atlanta investment with the purchase of 26 lots in six subdivisions in East Point, Jonesboro, Dallas, Ga., and Atlanta on Feb. 18, including lots in Stonewoood Creek and Henderson Ridge in Dallas, Ga., The Lakes in Jonesboro, Ga. and Savannah Walk in East Point, Ga.
Kinloch Homes expects construction to begin in the next 30 days
“The recession brought a lot of development to a halt and there are subdivisions with empty lots just waiting for a home to be built,” said Bruce McNeilage, co-founder of Kinloch Homes and Kinloch Partners, in a statement. “In addition to being a sound investment opportunity for Kinloch, it is a benefit to all the existing homeowners in these developments. The closer a subdivision comes to completion, the better it is for all of its home values.”
With its newest investment, Kinloch Homes said it plans to sell about half of the homes to the general public, and will keep the other half as rental properties.
“We see demand in the market for high-quality rental properties in the single-home, family market,” McNeilage said. “This next wave of investment will help build a strong portfolio of cash-flow positive properties for Kinloch Partners.”
Phil W. Hudson is a finance, music and sports reporter.