KENNESAW, Ga., Feb. 18, 2014 /PRNewswire/ -- Kinloch Partners LLC today announced it will acquire lots in 14 additional subdivisions in Atlanta and bring its total investment to nearly 200 new homes in 2014. The company 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 today.
In late 2013, Kinloch Homes, an affiliate of Kinloch Partners, LLC, announced that it will build new homes in Fulton, Henry and Clayton Counties beginning in 2014. In the most recent investment, all the lots are in developments where new construction has been lagging since the recession in 2009.
"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, LLC. "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 plans to sell approximately 50 percent of the homes to the general public, and will keep 50 percent of the homes as rental properties. Kinloch Homes, LLC uses 699homes.com and 799homes.com as websites for their retail home sales. "We are proud to offer people the opportunity of home ownership for $699 to $799 a month," McNeilage said.
Acquisitions completed today included lots in Stonewoood Creek and Henderson Ridge in Dallas, The Lakes in Jonesboro, and Savannah Walk in East Point. Kinloch Homes expects construction to begin in the next 30 days
"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."
About Kinloch Partners, LLC
Kinloch Partners, LLC is a real estate investment partnership formed in 2011 by childhood friends Bruce W. McNeilage and Christopher P. Zachary, who met on the playground at Kinloch Elementary School in Dearborn Heights, Michigan, in the mid-1970s. The company specializes in providing a path to home ownership for new homeowners through new construction, home renovation or investment in financially distressed real estate properties.
- Real Estate