Kairos Seeks Out Off-Market Deals in Areas with Outsized Favorable Performance

ConnectCRE

November 30, 2021


Kairos Investment Management Company recently acquired Siena Townhomes, a 195-unit affordable multifamily property in Central Las Vegas in an off-market transaction. Built in 2001, Siena Townhomes has a high occupancy rate with a 40-person waiting list.

“As an asset manager, allocator and registered investment adviser, Kairos Investment Management seeks out off-market opportunities in markets that exhibit potential outsized favorable performance like Central Las Vegas,” says Carl Chang, CEO and founder of Kairos. “Despite its affordable reputation, revitalization of downtown Las Vegas’ more diverse and growing employment opportunities, and limited new supply have led to increasing market rate rents, deepening the need for quality budget-friendly multifamily communities like Siena Townhomes throughout the area.”

Situated less than 6 miles north of the Las Vegas strip, the asset is within a 10-minute drive of several well-known retail centers including Las Vegas North Premium Outlets, a 676,000-square-foot outlet mall that features more than 140 stores and restaurants, and Meadows Mall, a 960,000-square-foot enclosed mall that offers access to 118 stores. The property is also located less than 1 mile from Texas Station, a 200-room hotel and casino.

* 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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