Kairos Seeks Out Off-Market Deals in Areas with Outsized Favorable Performance

Kairos Investment Management Company recently acquired Siena Townhomes, a 195-unit affordable multifamily property in Central Las Vegas in an off-market transaction. Built in 2001, Siena Townhomes has a high occupancy rate with a 40-person waiting list.

“As an asset manager, allocator and registered investment adviser, Kairos Investment Management seeks out off-market opportunities in markets that exhibit potential outsized favorable performance like Central Las Vegas,” says Carl Chang, CEO and founder of Kairos. “Despite its affordable reputation, revitalization of downtown Las Vegas’ more diverse and growing employment opportunities, and limited new supply have led to increasing market rate rents, deepening the need for quality budget-friendly multifamily communities like Siena Townhomes throughout the area.”

Situated less than 6 miles north of the Las Vegas strip, the asset is within a 10-minute drive of several well-known retail centers including Las Vegas North Premium Outlets, a 676,000-square-foot outlet mall that features more than 140 stores and restaurants, and Meadows Mall, a 960,000-square-foot enclosed mall that offers access to 118 stores. The property is also located less than 1 mile from Texas Station, a 200-room hotel and casino.