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| Carl Chang |
LOS ANGELES, CA – Kairos Investment Management Company (KIMC), a firm that focuses on value-based real estate investments, has secured a $175 million credit facility backed by Fannie Mae.
Berkadia, a leading commercial
mortgage lender, originated and will service the credit facility for each
transaction.
“In a high
inflationary and rising interest rate environment with recession looming, we
are well positioned and anticipate seeing many opportunistic multifamily,
affordable housing acquisition opportunities,” explains Carl Chang, CEO
and Founder of Kairos.
“In fact, we
are taking this opportunity to grow this component of our portfolio as we see
valuations pull back from all-time highs and the credit facility from Fannie
Mae provides Kairos additional leverage and excellent flexibility with a lower
cost of capital to do so.
”Our new
facility will enable us to act on available opportunities strategically and
close on affordable housing deals more quickly and efficiently.”
There are
numerous benefits to the Berkadia serviced credit facility, including providing
Kairos with better financing rates than utilizing one-off lending transactions.
 |
| Jonathan Needell |
"Kairos
seeks value-oriented opportunities we can acquire that align with our Impact
Strategy and where we invest in affordable housing and LIHTC as well as
self-regulated market rate, senior, and manufactured housing segments.”
The growing
affordable housing market in an increasingly competitive and complex
environment which requires flexible financing options and Berkadia is committed
to providing innovative tailored capital solutions to our clients, notes Tim
Leonhard, Senior Managing Director, Affordable Housing at Berkadia.
 |
| Tim Leonhard |
“Having the
facility in place gives Kairos very low cost of capital, flexible terms, and
significant credibility with potential sellers who will know that financing is
readily available, allowing them ability to move quickly and secure new
acquisition opportunities.”
Contacts:
Arleeny Escarcega / Elisabeth Manville
(949) 438-6262
aescarcega@thesmartagency.com
