Image Credit: walton.com
The Tennessee Conservative [By Paula Gomes] –
The same group that bought up land in Loudon County to sell to Chinese investors has bought 186 acres in Hamilton County.
Real estate investment and land asset management company Walton Global, acquired the land in Soddy Daisy. The acreage which is about 20 miles north of Chattanooga is located along Dallas Hollow Road and Lovell Road, south of Hixson Pike.
Earlier this year, local and state officials opened an investigation into some “unusual restrictions” concerning the sale of approximately 400 acres in Loudon County to 125 Chinese “tenants in common.”
The prime agricultural real estate in the Hotchkiss Valley was purchased in five parcels as an investment opportunity by Walton Tennessee LLC for $4,694,149.
Walton Tennessee LLC, is based out of Scottsdale Arizona and associated with Walton International LLC, which is associated with Walton Global LLC, a developer with $3.6 billion in land under management.
COO of Walton Global Kim Kaminski has said that the group is an American company that buys land in the path of growth to sell to American homebuilders but the Loudon property was listed in over 1,000 “undivided interest” shares for around $10 thousand each and sold to Chinese nationals in Hong Kong.
The list of covenants, conditions and restrictions (CCR) filed on the land raised eyebrows. The CCR stated that the shares cannot be transferred to U.S. citizens and that the restrictions remain in place “until 21 years after the last currently living descendents of former President George W. Bush have passed away.”
When Loudon County Mayor Buddy Bradshaw spoke with a Walton representative about the CCR, he was told that the investment was designed to attract Chinese investors concerned about banking in their communist country.
While Tennessee lawmakers put in place a new law that restricts foreign ownership of property in the state, it is not retroactive for property sales that took place before July 1st, 2023.
Representatives Monty Fritts (R-Kingston) and Lowell Russell (R-Vonore) are considering strengthening the law.
Fritts, who has worked in real estate has said that he has never seen the type of restrictions outlined in the CCR of the Loudon property. Both he and Russell are concerned about the proximity of the land to sensitive government installations in Oak Ridge.
According to the Walton group, the Soddy-Daisy land is earmarked for single-family homes under current zoning.
Michael Viers, Land Manager of Tennessee at Walton Global said, “We are very pleased to be involved in this property in Soddy-Daisy, and we are excited to support the continued need for quality housing in Hamilton County.”
The Soddy-Daisy land is a short drive to downtown Chattanooga and close to Interstate 24 and the Chattanooga airport making it convenient to schools, recreation, retail and a hospital.
In the past, Walton Global has acquired a total of 1,206 acres of land in Nashville, both commercial and residential.
About the Author: Paula Gomes is a Tennessee resident and reporter for The Tennessee Conservative. You can reach Paula at paula@tennesseeconservativenews.com.
12 Responses
Well, I guess the 26K Chinese healthy body men who entered our Country will make good use of it.
I have come to think our country would sell its MOTHER FOR A BUCK, why would you let more of these people into our country.
Exactly what I was thinking
Seems our fabulous politicians are happy to bring our enemies in to surround us then turn them against the citizens….been done before when trying to destroy a country and turn it into a commie hell hole.
I mean Bill China Lee was in Beijing while Tennesseans were in covid lock dwn on stage say TN is for sale and ready to do business with the CCP. This was a not hidden from anyone and still available online.
It is sad that Americans will sell out their country for a Dollar. Needs to be STOPPED NOW!!
OUR country has gone so far to the left and LIBERAL I see no hope for us. SOUTHERN BORDER WIDE OPEN, WE HAVE A FOOL trying to run the country, and liberal judges setting criminals free. KEEP putting DEMOCRATS IN OFFICE and we wont have a country.
Dallas Hollow is just a couple miles down the road from Sequoyah Nuclear Plant.
SB 122/HB 40 in the STATE OF TN was passed and went into effect on July 1, 2023, prohibits sanctioned nonresidential aliens, or their agents, trustees, or fiduciaries from acquiring real property in TN if their respective country is on the office of foreign assets control of the U.S. Dept of Treasury sanctions programs and country list. This list includes Chinese military company’s sanctions. There are many other countries and terrorist organizations listed. I hope this end company is on the list.
If foreign countries buy up our agricultural land, they can then dictate what can and can’t be grown there. This could help increase the possibility of famine in America. Stop the madness NOW!!!
The Constitution plainly states that property rights are for We The People of these United States and no where in the Constitution allows for foreigners to own property in the US. When interpreting Constitutional law, they must go back and research what the founding fathers originally meant. This is insane that they are selling our land from out beneath us. If we do not own our own land, we do not have a Constitution.
If it’s not China, it’s Bill Gates, the saddest part is that Americans can’t AFFORD TO BUY AMERICAN SOIL! So many people are losing land and their homes! In my life time I’ve watched hundreds of acres slip through the hands of family and friends. Lost to banks or investors. We have more and more people living under bridges or in shelters- This is clearly no longer the Land of Opportunity- at least not for AMERICANS!