2017
Value Strategy
The Value Strategy focuses on value based real estate investments throughout the capital structure across the United States, with an emphasis in strong secondary markets and select high growth tertiary markets.
The Strategy targets several property types, with a heavy emphasis towards multifamily assets to capitalize on the supply/demand imbalance particularly within class B assets that are primed for capital and operational improvements.
As the current market expansion becomes the second longest in United States history, the Value Strategy started prioritizing more conservative preferred equity and mezzanine debt positions that are expected to outperform in the event of a market correction as well as during periods of distress.
2016
Impact Strategy
The Impact Strategy invests in affordable housing within the United States, including low income housing tax credit (LIHTC), senior housing, manufactured housing, and self-regulated market rate communities. The Impact Strategy seeks to provide a predictable cash flow stream, in addition to positive environmental and social impact. One of its main goals is to demonstrate impact can be accretive to returns.
2014
Value Strategy
The Value Strategy has the flexibility to make value based real estate investments throughout the capital structure in assets across the United States, with a focus on strong secondary markets. As the United States economy transitioned into later phases of expansion, the Value Strategy included exposure to new geographic areas which were later to the recovery.
The Strategy targets several property types, including multifamily, student housing, grocery and pharmacy anchored retail projects, office and light industrial buildings, medical office, manufactured housing, and affordable housing (including LIHTC).
As Kairos deepened sponsor partner relationships and gained local expertise, the Value Strategy increasingly deployed capital through joint venture partnerships in addition to preferred equity and senior debt positions.
2011
Value Strategy
The Value Strategy has the flexibility to invest throughout the capital structure in assets across the United States, with a focus on strong secondary markets.
The Strategy targets several property types, including multifamily, student housing, grocery and pharmacy anchored retail projects, office and light industrial buildings, medical office, manufactured housing, and affordable housing (including LIHTC).
To help Kairos achieve a broader reach and higher level of operational efficiency, the Value Strategy started leveraging the expertise and relationships of local sponsors to source and operate select deals mainly through preferred equity and mezzanine debt positions.
2008
Income & Growth Strategy
The Income & Growth Strategy targets stable assets with high quality tenants, high occupancy, and low tenant turnover. Focusing on income-oriented assets suitable for long-term investment horizons, the Strategy originally included medical office and student housing. Its investment thesis was fundamentally underpinned by the strong demographic dynamics of the baby boomer and millennial cohorts.
2008
CMBS Strategy
The CMBS Strategy follows a strict criterion to invest in “CMBS the Real Estate Way”, with a focus on underwriting the underlying real estate. Its applicability is optimized during stages of the economic cycle characterized by widespread market illiquidity and flight to safety. The Strategy targets discounted, high grade, performing commercial mortgage backed securities collateralized by commercial and multifamily properties.
2005
Redwood Real Estate Partners
Carl Chang partnered with Jonathan Needell to form Redwood Real Estate Partners, the predecessor to Kairos Investment Management Company (dba Redwood-Kairos Real Estate Partners). Implementing a strong culture of discipline and alignment, the Chang Family decided to invest in real estate exclusively through the initiatives of the firm alongside private and institutional investors.
1989
Chang Family Legacy
Carl Chang was bestowed the responsibility of stewarding the Chang Family’s wealth through real estate after his younger brother, Michael Chang became the youngest French Open/Grand Slam Champion at the age of 17. Relentlessly focused on capital preservation, the portfolio was designed to create a recurring and reliable cash flow stream.