Kairos Acquires 103-Unit Denver Community

Multi-Housing News

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.

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* 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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The documents and articles are meant for educational and informational purposes only and should not be considered as investment advice or a recommendation of any type. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. The articles may contain forward-looking statements. These are based upon a number of assumptions concerning future conditions that ultimately may prove to be inaccurate. Such forward-looking statements are subject to risks and uncertainties and may be affected by various factors that may cause actual results to differ materially from those in the forward-looking statements. Any forward-looking statements speak only as of the date they are made and Kairos assumes no duty to and does not undertake to update forward looking statements. The views and opinions expressed are not necessarily those of Kairos and its affiliates.

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