Kennedy Wilson Fund VI, a commingled western U.S. value-add fund managed by Kennedy Wilson, has acquired Arbor Heights, a garden-style apartment community in Tigard, Ore., for $121 million.
“The Portland area has proven its resilience over the past two years through continued population growth and a strong employment market that have driven demand for high-quality, conveniently located housing,” said Mary Ricks, Kennedy Wilson president. “We are excited to expand our presence in Portland at a key point in the region’s growth trajectory and to add Arbor Heights to our successful Fund VI portfolio, which has showcased our relationships throughout the western United States and the value-add strategies that contribute to a top-tier tenant experience.”
Kennedy Wilson plans to invest more than $4 million to continue recent renovations at Arbor Heights, updating interiors of the community’s one-, two- and three-bedroom apartments, enhancing amenities and common sp
