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Kennedy Wilson, Goldman Sachs Plunk Down $107M for Seattle Infill Community
Kennedy Wilson and the real estate business within Goldman Sachs Asset Management acquired Coppins Well, a 236-unit high-rise apartment community in Seattle, for $106.5 million, excluding closing costs. Completed in 2012, the 17-story building complements Kennedy Wilson’s multifamily presence in Washington, which now exceeds 10,000 market rate and affordable units.
“The acquisition of Coppins Well furthers our strategy of upgrading our portfolio with attractive investments in high-growth markets across the Western U.S. that offer a great quality of life for residents,” said senior managing director Shem Streeter, who leads acquisitions for Kennedy Wilson’s multifamily division.
He continued, “Coppins Well was a unique opportunity for our team to acquire a well-built, infill community at a discount to replacement cost within Seattle’s urban core, where residents have generally maintained their employment and high incomes over the past 18 months through the uncertainty of the pandemic.”
- ◦Sale/Acquisition
