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Seattle & Northwest  + Pacific Northwest  + Apartments  | 
A view of Shoreline, Wash.

Kennedy Wilson Adds 3 Apt. Complexes to Its Global Portfolio

Real estate investment company Kennedy Wilson have announced three separate, larger-scale acquisitions – totaling $264 million for all three – that will add to its global portfolio. 

  • Paceline, a 221-unit apartment community in Shoreline, Wash.
  • Central Park Commons, a 180-unit garden-style apartment community in Meridian, Idaho
  • AYA ABQ, a 504-unit garden-style apartment community in Albuquerque, New Mexico

Upcoming investment for Kennedy Wilson include plans to immediately address value-add improvements on all three properties, as each shows a need. The acquisition financing played out like this, according to a news release:

Kennedy Wilson has an approximate 50% ownership in these acquisitions, which were completed within the company’s co-investment portfolio. Kennedy Wilson and its partners invested $149 million of total equity, including $75 million by Kennedy Wilson and the properties are expected to add approximately $11 million of initial annual net operating income, including $6 million to Kennedy Wilson.

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