Kennedy Wilson acquires two multifamily communities in Seattle for $265m

Kennedy Wilson has added two wholly owned apartment properties to its Seattle portfolio. The Kennedy Wilson team acquired The Bristol at Southport, the region’s largest waterfront apartment asset at 383 units, for $191 million, and has purchased Geo Shoreline, a newly built 164-unit community, for $74 million. The two properties join Kennedy Wilson’s multifamily portfolio focused on high-quality apartments located in rapidly growing markets across the western United States.

“Bristol and Geo are two premier assets with value-add upside that further our long-standing strategy to upgrade the quality of our portfolio within high-opportunity markets. Seattle is among the most economically vibrant cities in the world, with proven fundamentals, a strong job market that will continue to draw employees as offices open and robust rent growth that is now approaching pre-pandemic levels,” said Shem Streeter, a senior managing director who leads acquisitions for Kennedy Wilson’s