LOMPOC, CA-Beverly Hills-based Kennedy Wilson Inc. has acquired the 328-unit Park Place Racquet Club at 1300 L St. from Fowler-Flanagan Partners, LLC in a partnership with GE Real Estate, according to Jim Rosten, president of Kennedy Wilson Properties Ltd.

The Beverly Hills firm did not disclose the purchase price for the asset, which was part of $90 million in asset purchases and dispositions during the latest quarter. The company made the purchase by tapping its new $100 million Fannie Mae credit facility and forming a new joint venture with GE Real Estate. The transaction was brokered by Robin Ossenbeck of Hendricks & Partners, with Eddie Ring, VP of Kennedy Wilson’s West Coast Acquisitions and Asset Management Group, representing Kennedy Wilson and John Bonino, a GE vice president, representing GE.

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