September 12, 2016
Connect Apartments is right around the corner on September 15 at the JW Marriott, L.A. Live – don’t miss out, register today!
Beverly Hills, CA-based Kennedy Wilson acquired Townhomes at Lost Canyon, a 157-unit multifamily community in Santa Clarita, CA for $61 million. The property is a Class A community built in 2013 on 12.5 acres.
Kennedy Wilson Multifamily Investments’ Nicholas Bridges says, “We are excited to expand our presence in the greater Los Angeles area with another high quality asset.” The company believes the community will attract people seeking access to L.A.’s jobs and amenities, without sacrificing an outstanding public school system and a high quality of life.
CBRE Capital Markets’ debt and structured finance team secured $43 million of debt financing for the acquisition. CBRE’s Brian Eisendrath, Brandon Smith, and Annie Rice arranged the 10-year fixed rate loan through Fannie Mae at a rate of 3.63%.
For comments, questions or concerns, please contact Dennis Kaiser