Kennedy Wilson Buys Equinox MF for $90M

Kennedy Wilson and an undisclosed equity partner bought the 204-unit Equinox for $90 million. The Seattle property’s seller was Equinox Condominium Holdings LLC.

The company and its equity partner invested $38 million of equity. The partnership also secured a $53 million, 10-year loan through Freddie Mac at a rate of LIBOR + 2.1%, with the first five years interest-only.

The Class A property at 1520 Eastlake Ave. E. delivered in 2009. It is located a mile away from South Lake Union, and within walking distance to major employers.

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