Kennedy Wilson Acquires Western U.S. Multifamily Portfolio in Off-Market Transaction for $198 Million
Kennedy Wilson (NYSE:KW) has acquired 880 multifamily units across three properties in an off-market deal valued at $198 million. This strategic acquisition enhances KW's focus on institutional-quality, garden-style apartments in growing markets in the Western U.S. Plans include value-add asset management through updated amenities and unit interiors. The new portfolio increases KW's total multifamily units to approximately 9,404 in the Mountain States and 30,870 globally, reflecting the company's consistent growth and investment in regions with strong job growth.
- Acquisition of 880 units for $198 million expands KW's multifamily portfolio.
- Focus on high-growth markets in the Western U.S. supports long-term investment strategy.
- Addition of new properties increases KW's total multifamily units to approximately 30,870 globally.
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BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Kennedy Wilson (NYSE:KW) (“KW”) announced today the acquisition of 880 units across three multifamily properties in an off-market transaction for
“We are pleased to close on these three high-quality, very well-located properties and to build on our multifamily portfolio that favors geographies with strong university and education systems as well as promising job growth opportunities,” said Senior Managing Director Shem Streeter, who leads acquisitions for Kennedy Wilson’s multifamily division. “We continue to be very optimistic about the Mountain State markets, where we have seen tremendous results since we began investing there a decade ago and where we foresee continued job and population growth over the long term. We are also excited to expand our presence into Tempe where the vibrant business community, relative affordability and lifestyle offerings will help support a strong multifamily market.”
The assets were acquired by Kennedy Wilson and various investment vehicles managed by Kennedy Wilson. Rockrimmon, a wholly owned 260-unit community in Colorado Springs, Colorado was acquired for
The new portfolio contributes 880 units to Kennedy Wilson’s growing multifamily presence in the Mountain States, which now totals approximately 9,404 multifamily units, including units under development. The company has a total global multifamily portfolio of 30,870 units, including properties under construction.
About Kennedy Wilson
Kennedy Wilson (NYSE:KW) is a leading global real estate investment company. We own, operate, and invest in real estate through our balance sheet and through our investment management platform. We focus on multifamily and office properties located in the Western U.S., U.K., and Ireland. For further information on Kennedy Wilson, please visit: www.kennedywilson.com.
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