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9/13/16
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Kennedy Wilson has purchased The Townhomes at Lost Canyon, a 157-unit, Class A apartment community in Santa Clarita, in a $61 mil ($388.5k/unit) transaction. The property was built in 2013, and consists of 157 apartments situated on 12.5 acres.
The property is comprised entirely of three-bedroom/2.5-bath townhomes with high-end, condo-quality specifications with two-car, direct access garages and best-in-class community amenities.
The acquisition was financed with a $43 mil loan arranged by Brian Eisendrath, Brandon Smith and Annie Rice with CBRE Capital Markets’ Debt & Structured Finance team. The 10-year fixed rate loan was funded through Fannie Mae at a rate of 3.63%.
Kennedy Wilson’s global apartment portfolio includes 133 communities with approximately 26,000 units, including nine communities and 2,968 units in Southern California.
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