In its final deal of the year, Kennedy Wilson has acquired 3001 Park, a 528-unit apartment building in Henderson, Nevada, for $155 million. The deal caps off a significant buying spree for the firm last year, which saw it buy more than 5,000 apartment units across the country. With this purchase the company now has more than 35,000 units in its apartment portfolio.

Kennedy Wilson purchased the garden-style Henderson apartment building with $56 million in equity and it secured a $102 million loan. As is, the property will generate $8 million of annual revenue and $6 million of annual net operating income. Kennedy Wilson also plans to execute a capital improvements over the next four years to drive additional value to generate $12 million of annual revenue and $9 million of annual net operating income.

According to Kurt Zech, President of Kennedy Wilson's multifamily group, the property is illustrative of the company's bullishness on the Las Vegas market. In addition, the company made a strategic decision to focus suburban markets outside of growing metropolitan. Henderson is such a submarket, along with Boise, Seattle, Portland, Salt Lake City, Denver and Albuquerque, where the company has also made purchases in the last year.