Toscana homes for sale beginning September 24th
BEVERLY HILLS, Calif., Sep 19, 2011 (BUSINESS WIRE) --
International real estate investment and services firm Kennedy
Wilson (NYSE: KW) today announced the grand opening of
Toscana, a 39-unit townhome community in West Hills, which is located in
the San Fernando Valley region of Los Angeles, California. A joint
venture managed by the company purchased the residential project from
Bank of America for $12.8 million and will officially open the homes for
sale on Saturday, September 24.
"This project is perfectly positioned to take advantage of the move-up
buyers looking for a high quality townhouse at a very affordable price,"
commented Robert Hart, president of KW Multifamily Management Group.
The acquisition represents the third recent transaction with Bank of
America for Kennedy Wilson and its partners, following the purchases of
the 180-unit Noho 14 project in North Hollywood in June of 2010 and the
167-unit downtown L.A. adaptive reuse project, Santee Village, in
November of 2010.
Completed last year, Toscana was formerly known as The Villas at Sherman
Place and consists of three- and four-story townhomes ranging in size
from 1,900 to 2,050 sq. ft. Each unit has two or three bedrooms in
addition to a two- or three-car attached garage with extra storage and
washer-dryer hook-ups. The property also includes secured gated
entrances, a swimming pool and playground.
"This is a very upscale luxury project built in one of the best
locations in western San Fernando Valley," said Stuart Cramer, president
of KW Residential Group. "We are very pleased to be able to bring a
project in the mid to high $400,000s to the market at this time."
Toscana is centrally located in a residential neighborhood comprised of
mostly single family homes. The neighborhood also includes West Hills
Hospital & Medical Center as well as a variety of popular retail
destinations. For more information about Toscana, please visit www.toscanawesthills.com.
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 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.
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SOURCE: Kennedy Wilson
Kennedy Wilson
Christina Cha
Director of Corporate Communication
310-887-6294
[email protected]
www.kennedywilson.com