December 5, 2016
Beverly Hills, CA-based Kennedy Wilson completed a series of separate multifamily transactions in California and Oregon totaling $363 million. The investment company was able to generate excess capital through the transactions, while growing the cash flow of its portfolio.
The deals include the disposition of The Grove, a 331-unit apartment community in San Jose, CA for $96 million, a $175-million refinance of Bella Vista at Hilltop, a 1,008-unit apartment community in the San Francisco Bay Area, and the acquisition of Alara Hedges Creek, a 408-unit apartment community in a suburb of Portland, OR for $93 million.
Kennedy Wilson Multifamily Investments’ Kurt Zech says, “These transactions allowed us to harvest gains, improve the quality of our portfolio and lock in attractive long term financing.”
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