Chicago-based home rental company Kairos Living continues to expand its footprint in Livingston Parish after buying lots in a pair of DSLD residential communities in Denham Springs.
The company bought one lot in Arbor Walk and seven in the Manor Pointe community through SFR KL MS Borrower I LLC from DSLD Homes LLC for $1.7 million, according to a deal filed with the Livingston Parish Clerk of Court’s Office.
C T Corporation System is the registered agent for SFKR KL MS Borrower I LLC, according to business filings with the Louisiana Secretary of State’s office.
Kairos Living CEO James Anthanasopoulos represented the buyer. Kairos bought seven lots across three DSLD communities in November for $1.49 million and another seven in three Denham Springs communities for $1.5 million last month.
The home rental company also bought 20 lots off Elliot Road in a pair of transactions for $5 million in 2023.
The company is riding a nationwide trend involving millennials who are turning to renting upscale homes because they are being priced out of the coveted neighborhoods, as reported last month in the Wall Street Journal.
Institutional investors and private equity firms are pouring into the build-to-rent market, a subsector where developers construct neighborhoods of single-family homes to lease them to tenants instead of selling them.
From 2021 to 2023, the share of build-to-rent housing starts doubled to 10% of overall single-family housing, according to the National Association of Realtors’ analysis of U.S. Census Bureau data.
In 2003, 93,000 new single-family homes intended for rental were built, 39% more than in 2022 and an all-time high.
Founded in 2019, Kairos has expanded to include properties in dozens of other cities, including Lafayette, Broussard, and Lake Charles. Kairos Living offers leases for two to 10 years.
