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.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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