Resources created and curated to support the growth of impact investing, for those new to the field and for experienced practitioners.
An Annual Showcase of Impact Investment Fund Managers
Chapel Ridge is a 208-unit LIHTC apartment community located approximately 25 miles east of Oklahoma City, surrounded by employers in the services, manufacturing, and gaming industries. The property was acquired through an off-market transaction and secured with long-term Freddie Mac financing at historically low interest rates. Since acquisition, environmental efficiency improvements completed resulted in water and electricity savings of 62.5% and 16% of cost respectively, equal to approximately $80.5 thousand in annual expense savings. In addition, the property has a gym that was previously used for storage by the property's maintenance crew and will be rehabbed to host social activities for the benefit of tenants.
* This example is not representative of all investments made within the strategy. Readers should not assume the investment identified is or will be profitable.
Carl Chang – Founder & Chief Executive Officer More Info
Carl Chang founded Redwood-Kairos in 2005 after more than 15 years managing the investments and real estate holdings of his family’s investment portfolio. Mr. Chang has directly acquired, developed, and managed over $1 billion worth of retail shopping centers, office, multi-family, and multi-tenant light industrial properties primarily throughout the United States. He has also successfully managed private equity investments in a number of early-stage companies.
Jonathan Needell – President and Chief Investment Officer More Info
Jon Needell joined Redwood-Kairos in 2006 and has served as its Chief Financial Officer and Chief Operating Officer. Mr. Needell is currently President and Chief Investment Officer, responsible for overseeing acquisition and development underwriting and analyses, dispositions, and asset management. Mr. Needell also oversees all strategic and business planning, sourcing and structuring of construction, mini-perm, permanent debt, and joint venture equity financing, financial reporting, and lender and equity partner relations.
Kurt Altergott – Chief Financial Officer More Info
Kurt Altergott serves as Chief Financial Officer of Kairos. He is responsible for all facets of financial, strategic, and operational functions. Mr. Altergott is also involved with strategic and business planning, financial reporting, compliance, sourcing debt, joint venture equity financing, and lender and equity partner relations. Prior to joining the firm, Mr. Altergott was the Chief Financial Officer of MIG, a diversified investment advisor based in Newport Beach, CA where he was responsible for the sourcing and structuring of both the firm’s and for individual fund’s debt and equity raising efforts, risk mitigation and compliance, and lender and investor relations.
Percentage of Total Assets Under
Management that are Impact Investments:
25% – 49%
The Impact Strategy only invests in assets providing affordable housing (or market-rate assets that are self-regulated by the strategy to provide at least 20% of units at a 25% discount to the average unit price, rented to tenants below specified AMI levels.) In addition, the strategy seeks to invest in assets that are well-positioned to run social programs.