About us
Capitalizing on experience
Our specialized team has a diverse background with experience in the development and financing of over $15 billion in real estate projects across asset classes, including over $500 million in the cold storage space.
Our Mission
Karis is committed to providing exceptional value to clients by developing and owning high-quality industrial real estate assets. With over 80 years of collective experience, our team leverages tenant and broker relationships and an entrepreneurial approach to execute a diverse pipeline of best-in-class facilities that meet the evolving needs of modern businesses.
The Karis Story
Karis is the Greek word for “Grace” - a concept that Bono said, “a name for a girl, and also a thought that changed the world.” A concept we love and a fitting name for a company aspiring to do great deals with great people.
2014
The beginning of Karis
Karis was founded with the idea that good deals start with good stories. The story of value-creation was at the core of all of the early deals. The early value-add deals included some medical office and industrial, and first-ever build-to-suit development project in Chicagoland for a national trucking company in 2017.
2018
First institutional JV – AEW
Karis partnered with AEW in the Spring of 2018 for a joint-venture planned to develop two class-A industrial buildings in Metro Denver. The JV added a third project - an infill BTS for Amazon that was built and sold to a large institution in 2021. All three assets were completed, leased and sold by the end of 2021. The gross IRR of the venture was 80% with a 2.85X equity multiple. $35M of equity into just over $100M. One of the assets sold to KKR for the record cap rate in Denver of 3.68%.
2020
Karis Cold was launched
After some success in the traditional industrial world including two Amazon build-to-suits in Denver and Chicago, the world of spec industrial seemed to be getting crowded. After noticing a spec cold storage project in Dallas done by another developer, we quickly connected to the leading contractor in cold storage construction and put together a design and pipeline of projects. Partnering with two private family offices on the platform with an acquisition in Chicago and an initial project in Denver, Karis Cold was launched.
2021
The Pension Fund JV
In the fall of 2021 Karis Cold partnered with one of the largest state pension funds in the USA to acquire and develop $1 Billion of cold storage properties. The venture kicked off with acquisitions in Denver and Chicago and developments in Nashville, Norfolk VA and Charlotte MSA.
2023
Current Portfolio
Currently Karis owns and controls thousands of acres in 9 states with a focus on the midwest and southeast. We have 9 buildings under construction of which 7 are Class-A cold storage projects. Total portfolio value in excess of $2 Billion.
The Karis Story
Karis is the Greek word for “Grace” - a concept that Bono said, “a name for a girl, and also a thought that changed the world.” A concept we love and a fitting name for a company aspiring to do great deals with great people.
2014
The beginning of Karis
Karis was founded with the idea that good deals start with good stories. The story of value-creation was at the core of all of the early deals. The early value-add deals included some medical office and industrial, and first-ever build-to-suit development project in Chicagoland for a national trucking company in 2017.
2018
First institutional JV – AEW
Karis partnered with AEW in the Spring of 2018 for a joint-venture planned to develop two class-A industrial buildings in Metro Denver. The JV added a third project - an infill BTS for Amazon that was built and sold to a large institution in 2021. All three assets were completed, leased and sold by the end of 2021. The gross IRR of the venture was 80% with a 2.85X equity multiple. $35M of equity into just over $100M. One of the assets sold to KKR for the record cap rate in Denver of 3.68%.
2020
Karis Cold was launched
After some success in the traditional industrial world including two Amazon build-to-suits in Denver and Chicago, the world of spec industrial seemed to be getting crowded. After noticing a spec cold storage project in Dallas done by another developer, we quickly connected to the leading contractor in cold storage construction and put together a design and pipeline of projects. Partnering with two private family offices on the platform with an acquisition in Chicago and an initial project in Denver, Karis Cold was launched.
2021
The Pension Fund JV
In the fall of 2021 Karis Cold partnered with one of the largest state pension funds in the USA to acquire and develop $1 Billion of cold storage properties. The venture kicked off with acquisitions in Denver and Chicago and developments in Nashville, Norfolk VA and Charlotte MSA.
2023
Current Portfolio
Currently Karis owns and controls thousands of acres in 9 states with a focus on the midwest and southeast. We have 9 buildings under construction of which 7 are Class-A cold storage projects. Total portfolio value in excess of $2 Billion.
What We Do
Built-to-suite
Our clients, specifically Cold storage users, often require specialized facilities. Karis acquires optimal locations and develops facilities customized to fit the needs of our clients.
Multi user development
Facilities that serve the needs of multiple users can reduce per-pallet costs. We favor bringing together clients to a single facility when helpful.
Sale lease backs
Expensive real estate can trap valuable capital in illiquid assets. We free up that cash for our clients by purchasing their existing facilities and leasing them back on favorable economic terms.
Existing facility purchases
We purchase and repurpose older cold storage facilities into modern, high-quality facilities to meet the needs of today’s users.
The Team
Our specialized team has a diverse background with experience in the development and financing of over $15 billion in real estate projects across asset classes, including over $500 million in the cold storage space.
Golf sponsorship
At Karis, we believe in investing in the next generation of leaders and innovators, which is why we proudly sponsor PGA professional tour golfers Ben Martin and Carson Young, who share our commitment to excellence both on and off the course.
