Kennedy Wilson makes $134m acquisition in Denver

Kennedy Wilson has acquired Griffis Marston Lake, a wholly owned 332-unit suburban apartment community in Denver, for $134 million. The seller was not disclosed.

The purchase reflects Kennedy Wilson’s continued focus on recycling capital from recent asset sales and investing in high-quality multifamily properties in growth markets throughout the Mountain States region, where Kennedy Wilson has acquired nearly 1,900 units in the last 12 months and is developing approximately 1,000 more.

“Griffis Marston Lake is an ideal complement to Kennedy Wilson’s existing suburban multifamily portfolio and feeds into our growth strategy of expanding into high barrier to entry submarkets with leasing momentum, population growth and strong local economies,” said Nick Bridges, managing director at Kennedy Wilson, who oversees multifamily investments in the region. “Beyond the appealing location, the property offers the large unit layouts, amenities and relative affordability