Karioi Residential and Lincoln Property Co. are partnering on the 66-story Sixth and Guadalupe mixed-use development in downtown Austin, Texas.
Courtesy Kairoi Karioi Residential and Lincoln Property Co. are partnering on the 66-story Sixth and Guadalupe mixed-use development in downtown Austin, Texas.

San Antonio-based Kairoi Residential strives to live up to its name, which means moments in time where opportunities are seized. While the company continues to grow after having a successful 2021, its main focus is around creating those opportunities for its team members, residents, and investors.

The vertically integrated company not only develops, invests in, buys, and sells multifamily assets, it also manages its own assets as well as those for third parties.

Last year, it hired over 100 new employees and is looking to hire even more in 2022; it acquired eight properties totaling nearly $625 million; the property management team was awarded over 15,000 third-party units; and the company had approximately $1.6 billion worth of new multifamily properties in development.

Michael Lynd Jr., CEO, Kairoi Residential
Michael Lynd Jr., CEO, Kairoi Residential

“Our mission is not to be the biggest but to be the absolute best,” says CEO Michael Lynd Jr. “We do not aspire to be in 50 different markets. We’re really focused on select markets across the country. From there, we want to make sure we’re adding value to our stakeholders and our residents.”

The company has 23 projects in the pipeline that represent more than $4 billion in development. One of the highlights is its partnership with Lincoln Property Co. on the 66-story Sixth and Guadalupe mixed-use project in Austin, Texas. Approximately 590,000 feet of office space has been leased to Meta; the residential component with 349 units will sit atop that space and be ready for delivery in summer 2023. The two partners also have another Austin project in the works—the 74-story Waller Creek, which is expected to become the tallest building in the state.

“We don’t go around trying to build the tallest building, but it’s about what is going to create the most value for stakeholders and be well received by residents,” Lynd says. “We have teamed with Lincoln to take advantage of the few sites that exist in Austin to build this mixed-use environment. We’re not office experts, so therefore we agreed to partner with Lincoln to build these projects together.”

The company, which is selective in its markets, also is making a strong push in Charlotte, North Carolina. It is about to start construction on a multifamily project in the South End with several more opportunities under contract.

“This is a new market for Kairoi, and we are excited about establishing a consistent presence in what we see as a vibrant community with big macro tailwinds,” Lynd says.

However, he says that it’s not only about the physical four walls of housing, it’s about providing a curated experience that’s unique to the demographics and geography of where the assets are located. He adds that the value of the experience is starting to resonate with multifamily owners and has created a lot of growth opportunities for the company.

“Managing that growth is what we have been focused on. We don’t want to lose that premium level of performance and experience at the site level and the interaction with the clients. We are especially unique, and we don’t want to lose that feeling,” he says. “That level of experience and sense of community leads to higher rents and better returns as well as a more fulfilled customer at the end of the day. We are giving them something beyond the physical aspect.”

Because of that, Lynd says the story for the company this year revolves around people.

“It’s really people across the board. We really pride ourselves on doing the best we can do. The story for us and how 2022 will finish for Kairoi will be centered around attracting and retaining the best talent in the industry,” he adds. “For us to continue to grow and maintain our values and keep that essence of Kairoi, we are going to have to add some talented folks over the course of the year.”