Company’s acquisitions since beginning of 2010 total $5.1 billion
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Nov. 22, 2011--
International real estate investment and services firm Kennedy
Wilson (NYSE: KW) today announced that an affiliate of the
company acquired Westview Heights, a 198-unit multifamily community in
the Beaverton submarket of Portland, Oregon, for $29.5 million.
"The Westview Heights acquisition strengthens Kennedy Wilson's strategic
position in the Pacific Northwest region, with 3,801 units in nine
communities,” said Robert Hart, president of KW Multifamily Management
Group. He added, “The renewed strength of the Beaverton submarket, which
has recently experienced strong rent growth and robust job creation,
provides excellent upside potential for this asset.”
Westview Heights is located along Portland’s Sunset Corridor and in
close proximity to the area’s largest employers, such as Intel,
Tektronix and Nike. The community is surrounded by a desirable
neighborhood and is within walking distance to schools. A grocery
anchored retail center is adjacent to the property while additional
upscale shopping options are available approximately two miles south of
the property.
The acquisition increases the company’s multifamily portfolio in the
U.S. and Japan to 13,071 units. Kennedy Wilson’s acquisitions since the
beginning of 2010 total $5.1 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 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
[email protected]
www.kennedywilson.com