LOS ANGELES-Kennedy Wilson has acquired three multifamily properties in Liberty Lake and Seattle, WA, and El Cerrito, CA, from the Wolff Co., totaling $167 million. The two properties have 456 units. The company invested $26.2 million in equity and funded the remaining with $51 million of debt secured through CBRE Capital Markets.

Located in El Cerrito, CA, Village at Town Center has 159 units with a mix of one- and two-bedrooms. The building features a fitness center, courtyard and in-unit washers and dryers. It is located along the BART line, offering easy access to public transportation. “We are very strong believers in the East Bay. We think with the extremely low vacancies and high rents in San Francisco and along the Peninsula is going to continue,” Kurt Zech, president of Kennedy Wilson's Multifamily Group, tells GlobeSt.com.

Big Trout Lodge in Liberty Lake, WA, has 297, one-, two- and three-bedroom units. The building offers resort-style living with a swimming pool, community garden, clubhouse and fitness center. Kennedy Wilson is planning to renovate the interior units to a modern living experience. The renovation includes the kitchen, flooring and lighting. The 372-unit Seattle property acquisition is pending, but is expected to close in the next few weeks.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.