Why one mortgage company is already preparing for a second wave of COVID-19 defaults
Quote by Jonathan Needell | Mortgage Professional America June 10, 2020 With more than a third of U.S. states still experiencing...
March 22, 2021
Jonathan Needell, president and chief investment officer at Kairos Investment Management Company (KIMC), said a possible stumbling block to more REITs focusing on film production is that most studios lack commercial output policy insurance, unless they are in larger markets like Los Angeles or New York. He also noted that production investments often have speculative characteristics, if not operated by a studio giant like Apple, because of constant expenses required for facility improvements, which make long-term leases less desirable.
“This is about highly specialized improvements that can be a good investment depending on the credit,” Needell said. “You are taking some speculative credit risk on the improvements for someone who is not an Apple or a big enough tenant to stand behind the long-term lease.”
Studio spaces can also pose logistical challenges with higher tenant improvement costs compared to other properties like offices or industrial buildings, due to necessary equipment and wall adjustments. This dynamic can often lead to REIT apprehension toward investing in companies that aren’t major players in the film industry.
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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.
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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