Kennedy Wilson has acquired five multifamily properties in an off-market transaction for $342 million. The assets were acquired by various investment vehicles managed by Kennedy Wilson. The communities, located in Washington, Oregon, Colorado, Nevada and New Mexico, expand Kennedy Wilson’s multifamily portfolio focused on institutional-quality, garden-style apartments in rapidly growing markets in the western United States.
Kennedy Wilson has an average ownership of 38 percent in the assets.
“This off-market opportunity to acquire a collection of well-located apartment communities is a great way to cap off a year that emphasized improving our multifamily portfolio to include high-quality, income-generating communities where we are adding substantial value,” said senior managing director Shem Streeter, who leads acquisitions for Kennedy Wilson’s U.S. multifamily division. “We are confident in the underlying demographics and economic fundamentals of these marke
