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Seattle & Northwest  + Washington  + Office  | 

Kennedy Wilson Acquires Seattle-Area Office for $153M

Beverly Hills, CA-based Kennedy Wilson acquired 90 East, a 573,000-square-foot office campus consisting of three Class A office buildings in greater Bellevue, WA for $153 million in an off-market transaction. Built between 1999 and 2001 on a 20-acre site, the institutional-quality office campus is 100% leased to Microsoft and Costco, with a weighted-average lease term of 5.3 years.

Kennedy Wilson’s Matt Windisch said, “With two investment grade companies fully occupying the building, 90 East offers a strong initial cash flow yield and the potential to earn attractive long-term risk adjusted returns for the company.”

The sellers were Seattle-based Talon Private Capital and New York-based Cerberus Capital Management.

Kennedy Wilson invested $76 million of equity, and also secured a 10-year interest-only loan for $77 million at a fixed-rate of 3.85%. The acquisition brings Kennedy Wilson’s portfolio in the state of Washington to 1.4 million square feet of office.

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Read more at Kennedy WilsonConnect With Kennedy Wilson’s Windisch

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition