Akara Living is a forward-thinking real estate investment, development, and operations firm dedicated to redefining urban living through innovative design and community-focused initiatives. Established in 2013, the company emphasizes treating real estate as a service rather than a commodity, aiming to meet the dynamic demands of modern city dwellers. By integrating cutting-edge technology and sustainable practices, Akara Living strives to create vibrant, connected communities that foster genuine connections and personal growth.
Key Strategic Focus
Akara Living's strategic focus centers on developing mixed-use properties that seamlessly blend residential, coworking, and retail spaces. The company's flagship brand, Kenect, exemplifies this approach by offering flexible living arrangements tailored for busy professionals and digital nomads. By leveraging data-driven investment strategies and forward-thinking design, Akara Living targets urban markets with high growth potential, aiming to deliver superior risk-adjusted returns for investors while enhancing the urban experience for residents.
Financials and Funding
Since its inception, Akara Living has successfully capitalized and monetized over $1.5 billion in real estate assets, primarily within the multifamily sector. The company currently has projects under construction or in advanced planning stages totaling over $1.0 billion. These funds are strategically allocated to develop and expand the Kenect brand and other innovative housing solutions, reinforcing Akara Living's commitment to redefining urban living.
Pipeline Development
Akara Living's development pipeline includes several key projects:
- Kenect Nashville: Located in Midtown Nashville, this property features 420 residential units, 17,000 square feet of coworking space, and 21,000 square feet of retail space. It offers prime access to Division Street and 19th Ave S, catering to both residents and professionals.
- Kenect Phoenix: Situated in downtown Phoenix, this development comprises 320 modern residential units, a rooftop pool, a 24/7 fitness center, and 8,000 square feet of coworking space, along with 4,000 square feet of retail space. It serves students, professionals, and entrepreneurs in the area.
- Kenect Denver: Planned near the Larimer Street commercial corridor and Coors Field, this 22-story building will house 431 residential units and 14,000 square feet of retail space, featuring signature Kenect amenities and coworking spaces.
- Sustain: A wellness-focused development designed to create a sanctuary for the mind, body, and soul through thoughtfully designed spaces and wellness programming, promoting personal growth and well-being.
Technological Platform and Innovation
Akara Living distinguishes itself through the integration of proprietary technologies and innovative methodologies:
- Data-Driven Investment Strategies: Utilizing advanced data analytics to identify and capitalize on investment opportunities across the real estate value chain.
- Smart Home Features: Implementing smart technologies in residential units, including high-speed fiber internet, energy recovery ventilators, and smart water meters with leak detection, enhancing the living experience and promoting sustainability.
- Flexible Living Solutions: Offering adaptable living arrangements and coworking spaces to meet the evolving needs of modern urban residents, fostering a sense of community and collaboration.
Leadership Team
Akara Living's leadership team comprises seasoned professionals with extensive experience in real estate investment, development, and operations:
- Rajen Shastri, Founder and Chief Executive Officer: With over 15 years in senior management roles across the commercial real estate value chain, Rajen founded Akara Partners in 2013. He previously served as Principal, CIO, and Co-COO of Campus Acquisitions, leading the capitalization and monetization of over $1.5 billion in student housing assets. Rajen holds a B.S. in Business Administration from the University of Wisconsin-Madison and an MBA from the Kellogg School of Management at Northwestern University.
- Gregory Christiansen, President and Chief Operating Officer: Gregory brings extensive experience in operating, investing, and managing institutional real estate. Prior to joining Akara Partners, he served as President of Ollie and held executive roles at LaSalle Global Partner Solutions and Fortress Investment Group. He is a CFA charterholder with a Bachelor of Science degree in Finance from Linfield University.
- Carroll Vanhook-Weaver, Director of Leasing and Marketing: Carroll joined Akara Partners in 2019, bringing 25 years of experience in hospitality and property management. She has been instrumental in launching the Kenect brand in Nashville and Phoenix, as well as initiating the corporate housing division, which generated $4 million in revenue within four months.
- Jenna Gottlieb, Director of Brand Experience: Jenna rejoined Akara Partners with 20 years of experience in production and event management. She has produced over 400 residential and corporate events, enhancing brand identity and community engagement.
Competitor Profile
In the competitive landscape of urban real estate development, Akara Living faces competition from several key players:
- Curated Properties: A reputable developer known for boutique residential developments in Toronto, focusing on design-inspired excellence and unique living spaces.
- Asia Pacific Fibers: A manufacturer and supplier of textile products, operating in a different sector but competing for investment in urban development projects.
- Vardhman Textiles: A fabric manufacturer company, also operating in a different sector but competing for investment in urban development projects.
Strategic Collaborations and Partnerships
Akara Living actively engages in partnerships to enhance its market position and innovation capacity:
- Corporate and University Housing: Through the Kenect Corporate Enterprise Program, Akara Living offers flexible, all-inclusive housing solutions tailored for corporations, universities, hospitals, and businesses requiring short- and long-term accommodations. This program provides fully furnished housing options designed to meet the specific needs of employees, contractors, and students, ensuring convenience and comfort.
Operational Insights
Akara Living's strategic approach focuses on creating mixed-use developments that integrate residential, coworking, and retail spaces, catering to the evolving needs of urban residents. By emphasizing community engagement, flexible living solutions, and sustainable practices, the company differentiates itself in the competitive real estate market. Its data-driven investment strategies and commitment to innovation position Akara Living as a leader in redefining urban living experiences.
Strategic Opportunities and Future Directions
Looking ahead, Akara Living aims to expand its portfolio of mixed-use developments in high-growth urban markets. The company plans to leverage its expertise in integrating residential, coworking, and retail spaces to create vibrant communities that meet the demands of modern city dwellers. By continuing to invest in technology and sustainable practices, Akara Living is well-positioned to capitalize on emerging trends in urban living and deliver value to both residents and investors.
Contact Information
For more information about Akara Living and its projects, please visit their official website.
