Kairos Investment, Harbor Associates Buy 91,027 SF The George Office Building in Denver
REBusiness Online August 30, 2022 A joint venture between Rancho Santa Margarita, Calif.-based Kairos Investment Management Co. and Harbor...
June 10, 2020
With more than a third of U.S. states still experiencing an increase in COVID-19 infections, it’s clear that the nation’s economy is far from being out of the woods. Last week’s disputed job numbers raised spirits somewhat, but unemployment is still a ghastly 13 percent. COVID-19, as both a health and economic menace, is still wreaking havoc, particularly on the commercial real estate sector.
Many are anticipating a wave of defaults in the commercial space in the coming months, fuelled by thousands of bankruptcies and permanent business closures. Jonathan Needell, president and CIO of Kairos Investment Management Company, says a second wave of defaults is already building.
As Needell explains it, the first wave was already in motion before COVID-19 arrived. For many of the larger retail companies that have recently filed for bankruptcy – Neiman Marcus, Art Van, JCPenney, Modell’s, Pier One – the writing’s been on the wall for some time now. COVID-19 simply hastened the demise of their obsolete business models. No amount of government stimulus is going to save them.
Similarly challenged are highly leveraged businesses such as Brooks Brothers, Tuesday Morning and 24 Hour Fitness, whose futures are murky at best.
“When these tenants shutter their space or shrink and restructure,” Needell says, “they’re going to give a lot of space back in bankruptcy.”
Trying to time the two waves isn’t easy. We’re well into the first, but it keeps being extended: A wave of protests over the last two weeks saw social distancing guidelines thrown out the window; COVID-19-realted infection and hospitalization rates are rising; health experts have said the coronavirus may remain a disruptor until a vaccine is developed. Needell says last week’s employment figures should also be interpreted as being native to the first wave rather than signalling the beginning of the recovery.
“We’re still at 14 percent unemployment,” he says.
REBusiness Online August 30, 2022 A joint venture between Rancho Santa Margarita, Calif.-based Kairos Investment Management Co. and Harbor...
Real Estate Daily News and Commercial Sales Comps August 30, 2022 Kairos Investment Management Company (KIMC), a firm that focuses...
L.A. Business First March 6, 2023 The former TV Guide building in Hollywood, California, is getting some upgrades as...
The property is located adjacent to the Mid-Market neighborhood, in close proximity to several Fortune 500 companies The Registry...
KIMC is actively pursuing industrial deals, but with the same caution as any other asset class. Quote by Jonathan...
Connect CRE Phoenix & Southwest November 30, 2021 Kairos Investment Management Company recently acquired Siena Townhomes, a 195-unit affordable...
Done Deals January 24, 2022 Kairos Investment Management Company (KIMC), a firm that focuses on value-based real estate investments...
Pensions & Investments April 14, 2023 Tuning out the anti-ESG rhetoric, institutional investors globally are charging ahead with opportunities...
18101 Von Karman, Suite 1100
Irvine, CA 92612
(949) 709-8888
(949) 800-8500
investorreporting@kimc.com
Copyright © 2023 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.
You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/
You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/