The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 20, 2024
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

ETC... ETC...
Printer-friendly Version   Email an Associate
Kennedy Wilson Launches $1.5 Bil Multifamily Platform With Global Institutional Investor


Kennedy Wilson has entered into a new joint venture with a global institutional investor to acquire and manage core-plus multifamily communities in the Western U.S.

The platform was seeded with an $800 mil portfolio, including nine multifamily properties located in the Western U.S. that were previously wholly owned by Kennedy Wilson. As part of the transaction, Kennedy Wilson sold a 49% interest in these wholly owned assets to its partner. Kennedy Wilson will continue to have a 51% ownership stake in the new joint venture that will target approximately $700 mil in additional core-plus acquisition opportunities.

The creation of the new platform and the sale of the ownership stake in the multifamily assets generated approximately $254 mil in proceeds for Kennedy Wilson, which includes $92 mil of proceeds from refinancing certain assets within the seed portfolio prior to the sale. The majority of these proceeds are expected to be reinvested into new wholly owned acquisitions.

The launch of the platform, along with recently announced acquisitions, has contributed to a dramatic increase in recent transaction activity at Kennedy Wilson as well as an expansion of its multifamily portfolio, which has grown from 30,000 units at year-end 2020 to approximately 32,000 units expected as of June 30, 2021. Kennedy Wilson currently expects further growth in its multifamily unit count as the company redeploys the proceeds from the seed portfolio sale proceeds.

Return to the Archive page



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media