Kennedy Wilson has acquired three wholly owned multifamily communities totaling 1,110 units in three separate off-market transactions for $418 million.
The properties, including Palms at Peccole Ranch in Las Vegas, La Privada in Scottsdale, Ariz., and San Miguel del Bosque in Albuquerque, expand Kennedy Wilson’s multifamily portfolio focused on institutional-quality, garden-style apartments in rapidly growing markets in the Mountain West.
“We continue to be bullish on our outlook for the Mountain West, as renters explore new areas where their budgets stretch further and they can find an outdoor-oriented lifestyle in relative proximity to jobs, restaurants, and amenities of some exciting, established markets that still offer small-town quality of life,” said Shem Streeter, a senior managing director who leads acquisitions for Kennedy Wilson’s U.S. multifamily division. “We are excited to bring these high-quality communities into our growing multifamily busines
