SEATTLE, WA—Kennedy Wilson has acquired a multifamily portfolio comprised of three properties located across south suburban submarkets of Seattle.
The portfolio consists of 1,212 units and was purchased for $127 million. Kennedy Wilson invested $45 million of equity in the transaction and assumed $85 million of financing, fixed at 4.25%, from Freddie Mac.
“Kennedy Wilson is pleased to continue to grow our Pacific Northwest portfolio with the acquisition of these three assets,” said Kurt Zech, president of Kennedy Wilson's multifamily management group. “All three properties are located within the Puget Sound Region, which is ranked in the nation's top ten for job growth and rent growth.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
