SAN ANTONIO, TX – Lynd Residential Properties and Lynd Development Partners are getting a new name. Longtime business partners Michael J. Lynd, Jr., Sam Kasparek, Daniel Zunker, and Madison Marceau introduced Kairoi Residential, a premier, vertically integrated, multifamily investment, development, and management company. Uniting top-tier talent from their previous 15 years as partners, the principals of Kairoi Residential will continue to build on their strong track record of success in multifamily real estate.

“The Greek word Kairoi represents moments in time when opportunities present themselves. Our team chose the name Kairoi as it captures in a single word our daily mission across all business lines – to identify and capture opportunities. Our actions in these moments can positively change the lives of our residents, our associates, and our partners,” said Sam Kasparek, Managing Partner.

Kairoi Residential was made out of a desire to reposition the already successful investment and development business lines, internalize residential services, and bring all three businesses together under a new, dynamic brand.

“We are excited for this evolution of our brand which comes at a time of explosive growth in the multifamily business nationwide,” said Michael Lynd Jr., CEO. “Over the past 15 years, our team has transacted on $4 billion worth of multifamily investments and developments in many cities and states across the country. Our track record of success is tied to our ability to deliver inspired living experiences driven by a strong commitment to make value for our residents, owners, and investors. Our deep relationships across the industry have provided us with many opportunities for which we are grateful. Our team is motivated by the Kairoi Residential rebrand and committed to continuing our goal of building an exceptional company.”

The partners of Kairoi Residential have been involved in the business of developing and owning multifamily communities since 2002. “Over the course of our existence, we have developed or owned in excess of 27,000 units in many cities and states across the country,” said Madison Marceau, President of Investments. “In 2017, we chose to rebrand our businesses using the name Kairoi Residential through which we will manage, develop, and invest.”

Headquartered in San Antonio with offices in Denver and Austin, Kairoi Residential will seek to manage, develop, and invest in rapidly growing metropolitan areas across the United States.

“At Kairoi Residential, our mission is to empower our residents, provide incredible growth opportunities for our associates, and generate greater return for our partners,” said Daniel Zunker, President of Development. “We’re excited for the opportunities ahead.”

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ORLANDO, FL – Florida’s housing market continued its positive track in November, with more closed sales, more new listings, more pending sales and rising median prices according to the latest housing data released by Florida Realtors. Sales of single-family homes statewide totaled 19,990 last month, up 1.3 percent compared to November 2016.

“In November, Florida’s housing market reflected the trends we’ve grown accustomed to seeing throughout this year,” said 2017 Florida Realtors President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart. “More owners chose to place their homes up for sale. New listings for single-family existing homes rose 1.8 percent year-over-year, while new listings for existing condo-townhouse properties rose 5.9 percent. But, even with the increase in new listings, inventory was still tight and buyer demand was fantastic. Homes continued to sell quickly, resulting in increased pending sales – up 5.5 percent for single-family homes and up 9.3 percent for condo-townhouse units.

“In a quick-moving market like Florida, the best resource for consumers is a local Realtor, who will help successfully guide them through the complex process of buying or selling a home.”

The statewide median sales price for single-family existing homes last month was $240,000, up 9.1 percent from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. The statewide median price for condo-townhouse properties in November was $176,000, up 8.6 percent over the year-ago figure. November was the 71st consecutive month that statewide median prices for both sectors rose year-over-year. The median is the midpoint; half the homes sold for more, half for less. 

According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in October 2017 was $248,300, up 5.4 percent from the previous year; the national median existing condo price was $236,800. In California, the statewide median sales price for single-family existing homes in October was $546,430; in Massachusetts, it was $375,000; in Maryland, it was $281,466; and in New York, it was $249,900.

Looking at Florida’s condo-townhouse market, statewide closed sales totaled 8,235 last month, up 5.8 percent compared to November 2016. Closed sales data reflected fewer small sales and foreclosures last month: Small sales for condo-townhouse properties declined 21.8 percent and foreclosures fell 41.7 percent year-to-year; small sales for single-family homes dropped 36 percent and foreclosures fell 45.9 percent year-to-year. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

“How did Florida’s home resale market fare in November? Florida Realtors’ November statistics paint a picture of a market that looks a lot more like what we were seeing throughout 2016 and in 2017 prior to the hurricane, at least at the statewide level,” said Florida Realtors® Chief Economist Dr. Brad O’Connor. “Through November, total statewide dollar volume across all residential property types is sitting at about 105 billion dollars, compared to about 96 billion dollars at this time last year.

“How did we do it? Certainly not due to sales growth – thanks to Hurricane Irma, only one-and-a-half percent more homes have sold so far in 2017 compared to this point last year. The obvious driving force here is the continuing upward march of home prices.”

November’s for-sale inventory remained tight with a 3.8-months’ supply for single-family homes and a 5.7-months’ supply for condo-townhouse properties, according to Florida Realtors.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.92 percent in November 2017, up from the 3.77 percent averaged during the same month a year earlier.

To see the full statewide housing activity reports, go to Florida Realtors Media Center.

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