BEVERLY HILLS, Calif., Jun 08, 2012 (BUSINESS WIRE) –
International real estate investment and services firm Kennedy
Wilson


/quotes/zigman/1532897/quotes/nls/kw KW
-0.15%



today announced the acquisition of
Waterford, a 544-unit multifamily community in Hayward, CA. The company
and its partners purchased the property for $86.5 million, with $68.1
million in financing from Freddie Mac at 3.69%, fixed for ten years. The
company’s multifamily portfolio currently consists of ownership
interests in 14,114 units, including deals currently under contract.

“This acquisition is an excellent opportunity for us to employ our long
term experience in repositioning and managing large multifamily
communities,” said Robert Hart, president of KW Multifamily Management
Group. “Additionally, Waterford is in a strategic job centric infill
location and situated in the East Bay near the entrance to the San Mateo
Bridge, providing convenient access to residents commuting to the
Silicon Valley, South Bay and San Francisco and making it a very
attractive investment.”

Waterford is comprised of 29 two and three-story residential buildings
with a leasing center, fitness center, two swimming pools and spas and
children’s playground. The company plans to enhance the property’s
amenities and complete an aesthetic upgrade of the buildings with new
paint and landscaping.

Kennedy Wilson, together with its institutional partners, has acquired
approximately $6.6 billion of real estate and real estate secured debt
through joint venture and consolidated investments since the beginning
of 2010, including deals under contract. As of March 31, 2012, the
estimated value of the real estate assets under the company’s management
is $11.8 billion.

About Kennedy Wilson

Founded in 1977, Kennedy Wilson is an international real estate
investment and services company headquartered in Beverly Hills, CA with
23 offices in the U.S., Europe and Japan. The company offers a
comprehensive array of real estate services including auction,
conventional sales, property services, and research and investment
management. Through its fund management and separate account businesses,
Kennedy Wilson is a strategic investor of real estate investments in the
U.S., Europe and Japan. For further information on Kennedy Wilson,
please visit
www.kennedywilson.com .

SOURCE: Kennedy Wilson

        Kennedy Wilson
        Christina Cha
        Director of Corporate Communication
        310-887-6294
        ccha@kennedywilson.com 

www.kennedywilson.com            

Copyright Business Wire 2012

/quotes/zigman/1532897/quotes/nls/kw

Add to portfolio

KW

Article source: http://www.marketwatch.com/story/kennedy-wilson-and-partners-acquire-544-unit-multifamily-community-in-san-francisco-bay-area-2012-06-08

BEVERLY HILLS, Calif., Jun 08, 2012 (BUSINESS WIRE) –
International real estate investment and services firm Kennedy
Wilson


/quotes/zigman/1532897/quotes/nls/kw KW
+0.15%



today announced the acquisition of
Waterford, a 544-unit multifamily community in Hayward, CA. The company
and its partners purchased the property for $86.5 million, with $68.1
million in financing from Freddie Mac at 3.69%, fixed for ten years. The
company’s multifamily portfolio currently consists of ownership
interests in 14,114 units, including deals currently under contract.

“This acquisition is an excellent opportunity for us to employ our long
term experience in repositioning and managing large multifamily
communities,” said Robert Hart, president of KW Multifamily Management
Group. “Additionally, Waterford is in a strategic job centric infill
location and situated in the East Bay near the entrance to the San Mateo
Bridge, providing convenient access to residents commuting to the
Silicon Valley, South Bay and San Francisco and making it a very
attractive investment.”

Waterford is comprised of 29 two and three-story residential buildings
with a leasing center, fitness center, two swimming pools and spas and
children’s playground. The company plans to enhance the property’s
amenities and complete an aesthetic upgrade of the buildings with new
paint and landscaping.

Kennedy Wilson, together with its institutional partners, has acquired
approximately $6.6 billion of real estate and real estate secured debt
through joint venture and consolidated investments since the beginning
of 2010, including deals under contract. As of March 31, 2012, the
estimated value of the real estate assets under the company’s management
is $11.8 billion.

About Kennedy Wilson

Founded in 1977, Kennedy Wilson is an international real estate
investment and services company headquartered in Beverly Hills, CA with
23 offices in the U.S., Europe and Japan. The company offers a
comprehensive array of real estate services including auction,
conventional sales, property services, and research and investment
management. Through its fund management and separate account businesses,
Kennedy Wilson is a strategic investor of real estate investments in the
U.S., Europe and Japan. For further information on Kennedy Wilson,
please visit
www.kennedywilson.com .

SOURCE: Kennedy Wilson

        Kennedy Wilson
        Christina Cha
        Director of Corporate Communication
        310-887-6294
        ccha@kennedywilson.com 

www.kennedywilson.com            

Copyright Business Wire 2012

/quotes/zigman/1532897/quotes/nls/kw

Add to portfolio

KW

Article source: http://www.marketwatch.com/story/kennedy-wilson-and-partners-acquire-544-unit-multifamily-community-in-san-francisco-bay-area-2012-06-08