Expired Unemployment Benefits Impact Affordable Housing Owners
The additional $600 in unemployment benefits have helped to stabilized rents through the pandemic. Quote by Jonathan Needell |...
January 18, 2022
Kairos Investment Management Co. has bought Forest Manor, a 103-unit community in Glendale, Colo. The property was previously owned by Alden Torch Financial, which bought it in 2016, according to Yardi Matrix data.
Completed in 1974 and renovated in 2001, Forest Manor comprises three buildings, standing three stories tall and includes studio, one- and two-bedroom apartments averaging 576 square feet. Community amenities feature a tennis court, a volleyball court, a pool and two laundry facilities. KIMC is planning to upgrade the flooring and interior hallways, as well as common-area amenities.
Located at 625 S. Forest St., the property is within 1 mile of many retail options, including a Target, Bed Bath & Beyond, Walgreens, several dining destinations, as well as the Cherry Creek Plaza business center. Downtown Denver is situated some 5 miles northwest.
KIMC’s strategy is to acquire properties in growing markets such as Glendale and create affordable communities by improving and bringing them to market value, mentioned Carl Chang, CEO & Founder of KIMC, in a prepared statement. A couple of months ago, KIMC also acquired a Las Vegas affordable community for $41 million.
* The information contained herein is for general, informational purposes only and is not intended to constitute an offer to sell or buy any securities or other assets or promise to undertake or solicit business, and may not be relied upon in connection with any offer or sale of securities or other assets.
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Copyright © 2024 Kairos Investment Management Company | Disclosures
Kairos Investment Management Company is an Equal Opportunity Employer and, as such, does not discriminate in employment on the basis of an applicant or employee’s race, ethnicity, ancestry, national origin, color, sex, pregnancy (or related medical conditions), childbirth, family status, gender, gender identity or gender expression, age, religion, marital status, sexual orientation, disability, medical condition, military or veteran status, reproductive health decision making, or any other protected classification or characteristic under applicable federal, state or local law. Kairos will not discriminate against an applicant or employee who has one or more protected classifications, is perceived or regarded as having one or more protected classifications, or is associated with someone who has one or more protected classifications.
Kairos Investment Management Company will also provide reasonable accommodations to applicants and employees who may need such accommodations in connection with employment with Kairos on the basis of their disability, religion, status as a victim of domestic violence or pregnancy. An applicant who needs an accommodation in order to pursue employment with Kairos should contact Human Resources at HR@KIMC.com to request such accommodations. Kairos will engage in a good faith interactive process with the applicant to explore accommodations that will be effective, reasonable and not create an undue hardship.
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