June 5, 2017 Comments Off on Kennedy Wilson Acquires Seattle-Area Office for $153M Views: 272 National News, Washington, West

Kennedy Wilson Acquires Seattle-Area Office for $153M

Beverly Hills, CA-based Kennedy Wilson acquired 90 East, a 573,000-square-foot office campus consisting of three Class A office buildings in greater Bellevue, WA for $153 million in an off-market transaction. Built between 1999 and 2001 on a 20-acre site, the institutional-quality office campus is 100% leased to Microsoft and Costco, with a weighted-average lease term of 5.3 years.

Kennedy Wilson’s Matt Windisch said, “With two investment grade companies fully occupying the building, 90 East offers a strong initial cash flow yield and the potential to earn attractive long-term risk adjusted returns for the company.”

The sellers were Seattle-based Talon Private Capital and New York-based Cerberus Capital Management.

Kennedy Wilson invested $76 million of equity, and also secured a 10-year interest-only loan for $77 million at a fixed-rate of 3.85%. The acquisition brings Kennedy Wilson’s portfolio in the state of Washington to 1.4 million square feet of office.

Read more at Kennedy Wilson

Connect With Kennedy Wilson’s Windisch


Subscribe to Connect Daily National

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: ,

Comments are closed.