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Kennedy Wilson Sells Four-State MF Portfolio for $422M
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Beverly Hills, CA-based Kennedy Wilson divested a six-property multifamily portfolio totaling 2,199 units for $422 million. The asset sales generated cash proceeds of $223 million for Kennedy Wilson, its commingled funds and equity partners, including net proceeds to Kennedy Wilson of roughly $104 million. The buyers were undisclosed.
Kennedy Wilson’s William J. McMorrow says, “This portfolio sale enables us to recycle capital into other strategic investment opportunities.”
The company held a 41.3% average ownership in the garden-style apartment communities. They were originally built between 1989 and 1999, and have undergone improvements including exterior renovations and unit upgrades.
Located across four states, the properties in the portfolio include:
– Slate Creek in Roseville, CA with 612 units; (pictured)
– Xander 3900 in the Las Vegas Valley with 480 units
– Big Trout Lodge in the City of Liberty Lake, WA with 297 units
– Heatherbrae Commons in Milwaukie, OR with 174 units
– Montair at Somerset Hill in Tumwater, WA with 396 units
– StonePointe in University Place, WA with 240 units.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




