Kennedy Wilson Closes $775M Western States Value Add Investment Fund

Kennedy Wilson (NYSE:KW) has secured $775 million in capital commitments and closed its capital raise for Kennedy Wilson Real Estate Fund VI. The fund will target value-add real estate investments throughout the Western U.S. with approximately $2 billion in leveraged buying power.

KW VI is Kennedy Wilson’s largest capital raise in its 31-year history. The company committed $82 million of its own capital to anchor the fund.

“Institutional investors continue to show a strong appetite for real estate in West Coast markets, many of which are leading the country in job creation, wage gains and technology trends,” said Nicholas Colonna, president of Commercial Investments and Fund Management.”

Fund VI will focus on underperforming real estate that should benefit from a significant repositioning or renovation, with current fund acquisitions encompassing $1.1 billion for 12 commercial assets of various types, leveraging $386 million of equity to date.

Photo Credit: Kennedy Wilson

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