Kennedy Wilson acquires California apartment property
Kennedy Wilson has acquired an apartment complex in suburban Sacramento for $100 million. The property — Slate Creek at Johnson Ranch in Roseville, Calif. — was acquired from DiNapoli Capital Partners, which purchased it from Prime Group in May 2011 for $76.5 million.
The 638,000-square-foot apartment complex features 45 three-story buildings, totaling to 613 units. The property, built in 1991, sits on 38.7 acres near the state capital.
Year-to-date, Kennedy Wilson has acquired 30 apartment properties across the United States and one in Spain with a combined value of $500 million, according to Real Capital Analytics.