Kairos Targets Markets Similar to Glendale for Affordable Housing
GlobeSt. February 2, 2022 Affordable housing investor Kairos Investment Management Company is taking a contrarian approach to investment in...
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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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.
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