Company completes successful auction of California and Oregon
properties
BEVERLY HILLS, Calif., Oct 21, 2011 (BUSINESS WIRE) --
International real estate investment and services firm Kennedy
Wilson(NYSE: KW) today announced that the company sold more
than $16 million of lender owned properties via auction for a full
service bank headquartered in the Pacific Northwest. The auctions took
place on Saturday, October 15, 2011, in Portland, OR, and Sunday,
October 16, in Berkeley, CA, with over 150 people in attendance and
additional bidders online. Asset types included office, retail,
industrial, single family homes, condominiums, mixed use projects, land
and residential lots located throughout Oregon and California.
Purchasers submitted their successful bids for 39 assets at prices
ranging from over $5 million down to just a few thousand. In Kennedy
Wilson's third consecutive auction in the region this year, bidders took
advantage of a 30-day pre-bid period and secure, live online bidding
platform to place their successful offers.
"Pre-bids accounted for 35% of all sales and online bidders purchased
one out of every six assets," Rhett Winchell, president of KW Auction
Group, said. "Pre-bids and online bidding have become powerful
components of the auction services that we provide to banks and
financial institutions."
Kennedy Wilson will auction 15 condominiums on October 22 and 14
condominiums on October 23 in Washington State. For more information,
please visit www.bidkw.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.
SOURCE: Kennedy Wilson
Kennedy Wilson
Christina Cha, 310-887-6294
Director of Corporate Communication
[email protected]
www.kennedywilson.com