Kairos Investment Management Company Acquires Affordable 103-Unit Multifamily Property in Glendale, Colorado

Kairos Investment Management Company has acquired Forest Manor Apartments, an affordable 103-unit multifamily property in Glendale, Colorado. (Photo courtesy of KIMC)

Kairos Investment Management Company (KIMC), a firm that focuses on value-based real estate investments with favorable risk/reward characteristics, has acquired Forest Manor Apartments, an affordable 103-unit multifamily property in Glendale, Colorado.

“Kairos is constantly on the lookout for markets similar to Glendale, Colorado, where there is strong demand for quality, expertly managed affordable housing communities. In these areas, which tend to be less efficient and competitive, we can apply our differentiated management strategies to provide what we believe to be high quality, much-needed affordable housing,” said Carl Chang, CEO and Founder of KIMC. “Identifying markets that have experienced significant population growth in recent years, but have not been able to meet the need for affordable housing, allows us to acquire properties in those areas, improve them and bring them to market value. It’s a win-win situation for all, as those looking for quality affordable housing can live in such communities while we seek to maximize property value.

Forest Manor is located near Cherry Creek and downtown Denver, just 40 minutes from Denver International Airport and has convenient access to bus stops along Route 83. It is also close to the University of Denver and other highly rated schools within the Cherry Creek School District.

Additionally, residents enjoy convenient access to outdoor amenities such as museums, historic parks, and a variety of shops and restaurants, all within walking distance or accessible by nearby public transit services.

“As the Glendale area has quietly become a rising city in Colorado, we are thrilled to be at the forefront of this emerging market with this latest acquisition,” said Jonathan Needell, President and Chief Investment Officer of KIMC. . “The neighborhood offers people the peace and quiet of a small town, while simultaneously giving them access to everything Denver has to offer. With our management strategy implemented, Forest Manor will provide residents with quality, affordable apartments not far from the hustle and bustle of downtown Denver.

Built in 1974, Forest Manor has managed to maintain a strong occupancy rate of nearly 90%. The property, which was last renovated in 2001, offers residents a mix of a single studio, 74 one-bedroom units and 28 two-bedroom units fully equipped with air conditioning, carpeting and spacious closets. Common facilities include access to a swimming pool and laundry facilities.

As part of KIMC’s value-added strategy with affordable housing, the company plans to renovate the asset by implementing interior and exterior improvements aimed at enhancing the aesthetics of the apartment community as well as increasing its market value. Planned changes include interior repairs and unit upgrades, new flooring for interior hallways, exterior roof repairs, pool renovations and common amenities.

Forest Manor is located at 625 South Forest Street, Glendale, Colorado.


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