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$58M Buys 518 Apartment Units

FEDERAL WAY, WA-AIG Global Real Estate and Kennedy Wilson's multifamily division jointly acquire Stonehaven at West Campus, a 518-unit community here from publicly held United Dominion Realty Trust.

By Brian K. Miller | Updated on November 15, 2006

(To read more on the multifamily market, click here.)

FEDERAL WAY, WA-The multifamily division of Beverly Hills, CA-based Kennedy Wilson and its equity partner AIG Global Real Estate have acquired Stonehaven at West Campus, a 518-unit, 493,854-sf apartment community here, for $58 million. The seller was publicly held United Dominion Realty Trust, which acquired the property in the late 1990s.

Completed in 1991, Stonehaven at West Campus consists of 48 wood-frame buildings on 30 acres. Amenities within the gated community include a full-size basketball gymnasium, fitness center, aerobics studio, tanning facility, children’s center, racquetball court, movie theater, business center and three heated swimming pools. Apartment units range from 698 sf to 1,200 sf.

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