Updated Dec 18, 2025
William J. McMorrow Of Kennedy Wilson Purchases Kinetic Student Housing In Atlanta For $132M
1025 Spring Street Northwest
$132,000,000
Units
752
Asset Type
Student Housing
Closing
Dec 17, 2025
About this deal
AI
This off-campus student housing project, located at 1025 Spring Street Northwest in Atlanta, GA, consists of 752 beds and was sold for $132,000,000. The asset, known as Kinetic, was developed by Toll Brothers and completed construction last year, with move-ins starting this fall. The price per bed for this property amounts to $175,532.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $132,000,000
- Buyer: William J. McMorrow - Kennedy Wilson
- Seller: Douglas C. Yearley, Jr - Toll Brothers
- Number of Beds: 752
- Price Per Bed: $175,532
- Market: Atlanta, GA
- Sale Date: 12/17/2025
Toll Brothers has divested its Kinetic project, strategically positioned near Georgia Tech, to Kennedy Wilson. This acquisition aligns with market demands for student housing, reflecting a notable transaction in the Atlanta area. The buyer, William J. McMorrow, represents Kennedy Wilson, while Douglas C. Yearley, Jr represents Toll Brothers in this transaction.
On the Map
$132,000,000
Student Housing
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Atlanta Student Housing Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93