Buyer Benefits From Property Potential

SAN FRANCISCO-Earlier today, GlobeSt.com reported that Beverly Hills, CA-based Kennedy Wilson and its partner acquired the Pointe at Redwood Shores for approximately $22 million, all cash. According to HFF, which marketed the property on behalf of the seller, a joint venture between Angelo Gordon & Co. and Premia Capital, the KW will benefit from the property’s potential.

The HFF investment sales team was led by director Dave Karol along with senior managing director Michael Leggett, managing director Steven Golubchik and associate director Mark Damiani. Karol says that “The San Francisco Peninsula area benefits from its proximity to a multitude of technology driven businesses, and the area has seen strong demand as the market continues to recover. The buyer will undoubtedly benefit from the property’s potential for leasing up the remaining vacancy at current market rates.”