Kennedy Wilson and Goldman Sachs acquire apartment community in Seattle for $106m

Kennedy Wilson and the real estate business within Goldman Sachs Asset Management have acquired Coppins Well, a 236-unit high-rise apartment community in Seattle, for $106.5 million.

Completed in 2012, the 17-story building complements Kennedy Wilson’s significant multifamily presence in Washington state, which now exceeds 10,000 market rate and affordable units.

“The acquisition of Coppins Well furthers our strategy of upgrading our portfolio with attractive investments in high-growth markets across the western United States that offer a great quality of life for residents,” said Shem Streeter, senior managing director, who leads acquisitions for Kennedy Wilson’s multifamily division. “Coppins Well was a unique opportunity for our team to acquire a well-built, infill community at a discount to replacement cost within Seattle’s urban core, where residents have generally maintained their employment and high incomes over the past 18 months through the uncerta