Kinloch Partners Enters Texas with Planned Build-to-Rent Subdivision in Dallas’ Eastern Metroplex, Plans Multiple Projects, 500 Homes During the Next 18 Months
NASHVILLE, Tenn., July 19, 2021 /PRNewswire/ -- Kinloch Partners, LLC, today announced it has completed the purchase of multiple lots in Royce City, Texas, on the Eastern part of the Dallas Metroplex. The company plans a Build-to-Rent subdivision, providing affordable Single Family Rental (SFR) homes to this quickly growing region.
Kinloch Partners plans to aggressively expand its holdings in the Dallas area, with multiple Build-to-Rent projects totaling 500 newly SFR homes in the next 18 months. The homes will range from 2,000 to 2,500 square feet and will be priced from $200,000 to $300,000. Rent will be under $2,000 per month.
“Dallas has a high-growth trajectory with a stable workforce, but like many markets across the country, affordable housing remains a challenge,” said Bruce McNeilage, co-founder and CEO in Kinloch Partners. “SFR Build-to-Rent homes provide an affordable option for people who want a single family home, but might find it challenging to find the right home for purchase.”
Build-to-Rent subdivisions are an emerging trend in real estate development, attracting investors from Wall Street hedge funds, pension funds and international entrepreneurs. There are more than 72 million Millennials born between 1981 and 1996 in the United States. Many are coming into peak family raising years, would like to purchase a home, but are often saddled with high student loan debt. This makes home ownership challenging and is sparking a rise in Build-to-Rent.
Kinloch Partners is a pioneer in Build-to-Rent and its portfolio of homes across the Southeast and soon to be Texas provide an excellent example of how the concept works.
“We know the path to traditional home ownership is just out of reach for many people today,” McNeilage said. “Newly constructed single-family rental homes are an excellent alternative for people who still want to rent, but also want the amenities of a family home. We’re looking forward to expanding this concept in Dallas.”
About Kinloch Partners
Kinloch Partners, LLC is a real estate investment company formed in 2011 by childhood friends Bruce McNeilage and Chris Zachary. The company owns, builds and manages single-family rental homes throughout the Southeast. A pioneer in the Build-to-Rent Single Family Homes Neighborhood concept, Kinloch Partners specializes in helping people live the American Dream, providing affordable new construction and a path to home ownership.
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SOURCE Kinloch Partners