Fri, 05/09/2014 - 16:04
Hedge fund and real estate investment trust (REIT) investment in residential real estate is helping boost property values and creating rental inventory in Nashville, according to Bruce W McNeilage, founder of Kinloch Partners.
McNeilage made his remarks as part of a panel presentation titled "Emerging Housing Trends: Converting Single Family Homes to Long-Term Rentals" at the Tennessee Housing Development Agency's Governor's Housing Summit.
McNeilage said: "It has helped keep property values higher, which is good for existing owners. In addition, it's created a larger supply of high-quality rental homes which is particularly attractive to businesses looking to relocate to Nashville. Companies relocating here can find high-quality rental housing for their executives, who often need to rent while selling an existing home."
McNeilage, through Kinloch Partners and other real estate investment partnerships, currently owns 50 pad ready residential lots in Nashville. His firm has been in the build-to-rent market in Nashville for the past nine years. He predicts the build-to-rent market will continue to grow in Nashville.
"We are seeing a significant market for high-quality rental properties and anticipate that many real estate developers will build more homes with the intent to use them as rental properties," McNeilage says. "One trend we expect to see in the coming years is entire developments, perhaps as many as 100 houses, will be built entirely as rental properties."
In addition to his investments in Nashville, McNeilage also owns lots in 16 subdivisions in Metro-Atlanta.
Tue 28/07/2015 - 13:57
Mon 27/04/2015 - 14:00
Fri 23/01/2015 - 10:00
Mon 27/06/2016 - 08:32
Mon 20/06/2016 - 14:21
Thu, 30/Jun/2016 - 09:30
Wed, 29/Jun/2016 - 16:36
Wed, 29/Jun/2016 - 09:46
Wed, 29/Jun/2016 - 09:44
Wed, 29/Jun/2016 - 09:43
Wed, 29/Jun/2016 - 09:42