Friday, February 25, 2022

Kairos Investment Management Co. Acquires 238-Unit Affordable Multifamily Property in Austell, GA for $35 Million

Walton Crossing, 1820 Mulkey Road, Austell, GA
 

AUSTELL, GA Kairos Investment Management Company (KIMC), a firm that focuses on value-based real estate investments with favorable risk/reward characteristics, has acquired Walton Crossing, a 238-unit affordable multifamily community in the Atlanta metropolitan area of Austell, Georgia.

Kairos purchased the property at 1820 Mulkey Road from the seller, an affordable housing developer located in the same area, for $34.6 million.

Carl Chang

"We have seen the demand for high-quality, affordable housing outpace available supply throughout the country, especially in markets that attract renters due to job availability and lifestyle,” says Carl Chang, CEO and Founder of Kairos.

“As a company that actively takes a proactive approach to asset management, our team is adept at identifying properties that can benefit from our value-add strategy and enhance the lifestyle of present and future renters.”

Jonathan Needell

Built in 1990, Walton Crossing is nestled in the desirable Austell submarket of Atlanta and situated on 20.07 acres.

“Walton Crossing is a valuable cash-flowing asset in our portfolio, as its proximity to major medical centers and large-scale employers in a rapidly growing city positions it for stable long-term growth,” says Jonathan Needell, President and CIO of Kairos.

 

 

CONTACTS:

 

Arleeny Escarcega / Lexi Astfalk

The Smart Agency, Inc.

(949) 438-6262
aescarcega@thesmartagency.com

 www.kimc.com.

 

EVERYTHING IS BIGGER IN TEXAS: DYNAMIC $3.5 MILLION WATER FEATURE TO SERVE AS CROWNING JEWEL AT 172-ACRE EPICCENTRAL PARK IN GRAND PRAIRIE, TX

 

172-acre EpicCentral entertainment park
 in Grand Prairie, TX, expected
to feature $3.5 million show
 fountain by fall of this year

 GRAND PRAIRIE, TX -– Outside the Lines (OTL), a design-build construction company that specializes in creating one-of-a-kind water features, rockwork and themed environments, has announced its role in the construction of a $3.5 million show fountain for EpicCentral, a 172-acre park site located in the heart of the Dallas-Fort Worth Metroplex, in the city of Grand Prairie, Texas.

  The park is currently undergoing a multi-phased expansion.

Located at 2960 Epic Place in Grand Prairie, Texas, EpicCentral is home to Epic Waters Indoor Waterpark; The Summit recreation center for adults ages 50+; The Epic, a 120,000-square-foot fitness, arts, and entertainment facility;

  “Grand Prairie is a tourism powerhouse attracting up to 7 million visitors a year to its events, attractions, and venues,” says J. Wickham Zimmerman, Chief Executive Officer of OTL.

 

J. Wickham Zimmerman

“The City’s new EpicCentral project is another key part of their tourism and local community amenities.  By installing this project and spectacular show fountain as part of its EpicCentral expansion, the City of Grand Prairie is investing in a unique entertainment destination that adds to a quality of life everyone will enjoy.”

 The show fountain that OTL is designing and constructing, which will be installed within one of the park’s existing lakes, matches the new development’s central theme, notes Zimmerman.

 “Making memorable experiences through iconic attractions is the core concept behind EpicCentral, and this large-scale water feature will be its enchanting centerpiece,” says Zimmerman.

  “The new destination will feature intriguing landscaping, a stage for concerts and events, immersive lighting effects, and interactive art pieces, with the show fountain as its crowning jewel.”

 

Chris Roy

The show fountain, slated to be complete by fall 2022, will feature thrilling air-fired jets and robotic nozzles reaching heights of over 60 feet, in addition to large-scale projection and specialty lighting effects and music.

 “The City of Grand Prairie’s goal is to create an iconic water feature for the new destination, with the ability to extend the show fountain further into the lake to align with potential future development,” explains Chris Roy, OTL’s project executive in charge and Director of Creative Design.

 “The fountain is being designed in modular fashion so that it can be expanded as the destination evolves.”

 OTL is working with Merriman Anderson Architects, Inc. as the architect on the project as well as Studio Outside as the landscape architect to deliver an exceptional show fountain that will grow along with EpicCentral itself.

 

CONTACTS:

 

 Katie Haga / Jenn Quader

The Smart Agency, Inc.

(949) 438-6262

khaga@thesmartagency.com

www.otl-inc.com.