Kinloch Partners Sells Balance of Iris Lakes Village Subdivision in McDonough; Foxdale Properties, LLC Acquires 21 Lots, Remaining Development Rights

September 12, 2016

Kennesaw, Ga., Sept. 14, 2016 – Kinloch Partners, LLC a real estate investment firm headquartered in Kennesaw, today announced it has sold 21 lots in Iris Lakes Village subdivision in McDonough, Ga., to Foxdale Properties, LLC.

Foxvale, based in Norcross, Ga., also received Iris Lakes Village’s remaining development rights, the homeowners association and all common areas and green space.

“The Iris Lakes Village sale is another step in our long-term vision to acquire property, whether it’s pad ready lots or existing single family homes, then selling in bulk to new home builders or real estate management portfolios,” said Bruce McNeilage, co-founder of Kinloch Partners. “Our Iris Lakes Village sale underscores the demand for buildable lots in Metro-Atlanta and points to the continued strength in this market.”

The sale was Kinloch’s second significant sale in as many months. In August, the company sold a portfolio of 42 single-family homes to Jeff 1, LLC, a Main Street Renewal, LLC and Amherst Holdings, LLC-owned company for $4.72 million.

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