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May 7, 2023
Kairos Investment Management Co. has secured a $175 million credit facility backed by Fannie Mae to grow and advance its affordable housing portfolio. The credit facility was originated by and will be serviced by commercial lender Berkadia.
In a prepared statement, a KIMC official explained that the new credit facility will provide KIMC with the additional capital flexibility and bulk to leverage outstanding market opportunities. The official noted that KIMC seeks value-oriented opportunities.
The Berkadia-serviced credit facility provides KIMC superior financing rates than leveraging one-off lending transactions. The 20-year facility term allows Kairos to close different loan tranches bearing an array of maturities, enabling the firm to better manage long-term financing risk and future capital events.
The facility brings together fixed- and floating-rate tranches, permitting greater pliability in interest rate management. It also affords the capability of adding or removing different assets to the collateral pool, without prepayment penalties being levied.
In addition to benefiting from very low cost of capital and flexible terms, the transaction is likely to generate substantial credibility from potential sellers, who will realize financing is readily available, enabling them to secure new acquisition opportunities quickly.
* 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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