Kennedy Wilson Pays $141M for Bella Vista

SAN PABLO, CA-Kennedy Wilson and its partners have acquired Bella Vista at Hilltop, a 1,008-unit multifamily community here, for $140.5 million. The addition of Bella Vista is also the largest single multifamily asset acquisition in Kennedy Wilson’s history, according to a prepared company statement.

The purchase, from seller GMH Capital Partners, increases the company’s multifamily portfolio to 12,906 units in the western US and Japan and assets under management to $7.4 billion. “Bella Vista is an institutional quality asset in one of our largest target markets,” says Robert Hart, president of KW multifamily management group. “This deal is a prime example of Kennedy Wilson’s ability to source high quality opportunities off market.”