Kennedy Wilson Acquires Multifamily Properties In Seattle And Portland For $110 Million

The transaction involved the purchase of two multifamily apartment properties located at 3230 16th Avenue Southwest in Seattle, WA, and 2050 Northeast Hoyt Street in Portland, OR. The buyer, Kennedy Wilson, acquired the assets for a sale price of $110,000,000, encompassing a total of 438 units with a price per unit of $251,142. The financing for this deal included a fixed-rate loan of $70 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $110,000,000
• Buyer: Kennedy Wilson
• Units: 438
• Price Per Unit: $251,142
• Loan Amount: $70,000,000
• Properties Acquired: Axle in Seattle and Denizen in Portland
• Developer: LMC

This transaction was facilitated by Kennedy Wilson's real estate fund, which focuses on multifamily properties. The acquisition underscores the company's strategy to expand its portfolio in key markets such as Seattle and Portland.