Kennedy Wilson Acquires 528-unit Apartment Community in Greater Las Vegas to Cap Off Year of Substantial Multifamily Investment
2021年12月30日 - 8:00PM
ビジネスワイヤ(英語)
Multifamily platform grew throughout 2021 to
over 35,000 units located across the Western U.S. and Ireland
Global real estate investment company Kennedy Wilson (NYSE:KW)
has acquired a wholly-owned, 528-unit garden style apartment
community in Henderson, Nevada for $155 million, excluding closing
costs. The acquisition caps off a year of significant growth within
Kennedy Wilson’s multifamily platform, which has expanded from
29,840 units at the beginning of 2021 to over 35,000 units across a
global portfolio, including 4,500 units under development, the
majority of which will be finished by the end of 2023.
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3001 Park Apartments - Henderson, Nevada
(Photo: Business Wire)
Kennedy Wilson invested $56 million of total equity in the
acquisition of 3001 Park and secured a $102 million loan. The
community is 95% occupied and is expected to initially add
approximately $8 million of annual revenue and $6 million of annual
net operating income to Kennedy Wilson, which is projected to grow
to $12 million of annual revenue and $9 million of annual net
operating income to Kennedy Wilson following the completion of
value-add initiatives over four years, including unit and amenity
upgrades to enhance the renter experience.
“The acquisition of 3001 Park reflects our continued confidence
in the Las Vegas region, which has experienced one of the strongest
recoveries in the nation and where we have been active investors
for many years,” said Kurt Zech, President of Kennedy Wilson’s
multifamily group. “In 2021, we made significant progress on our
strategy of expanding into suburban markets surrounding rapidly
expanding cities, including Boise, Seattle, Portland, Salt Lake
City, Denver, and Albuquerque, where renters can find relative
affordability and proximity to diverse employment markets.”
The 3001 Park community builds on Kennedy Wilson’s Las Vegas
multifamily presence to over 2,300 market-rate units, and joins a
global multifamily portfolio of well-located, high-quality
apartments in growth markets across the Western United States and
Ireland.
“In a year where we have focused on expanding our multifamily
presence in our core markets, we are pleased to conclude 2021 with
robust acquisition activity that has continued to improve the
quality, location, and relative age of our portfolio,” said William
McMorrow, Chairman and CEO of Kennedy Wilson. “With our talented
local teams, long-standing relationships, development pipeline, and
new capital partnerships in place, our multifamily platform will
continue to be a core driver of Kennedy Wilson’s corporate growth
in 2022.”
Kennedy Wilson is progressing on a 3,500-unit Western U.S.
development pipeline that includes the 268-unit Oxbow in Bozeman,
Montana, as well as many projects where Kennedy Wilson is building
adjacent to communities it already owns. These ongoing projects
include the 32-acre master planned Anacapa Canyon development in
Camarillo, California, with 310 units adjacent to University Glen;
the 172-unit second phase of construction at 38° North in Santa
Rosa, California; and Dovetail in Boise, Idaho with 240 units under
construction next to Kennedy Wilson’s Jasper community. Within the
Western U.S. development pipeline, approximately 1,800 units are
under construction through Vintage Housing, Kennedy Wilson’s
growing affordable and senior housing joint venture.
In Ireland, where Kennedy Wilson is one of the country’s most
active multifamily real estate investors and operators, nearly
1,000 new multifamily units are in various stages of development at
prominent Dublin projects, including 232 units at The Cornerstone
on the former Leisureplex site, 287 units at The Grange, and 471
units at Coopers Cross.
About Kennedy Wilson
Kennedy Wilson (NYSE:KW) is a leading global real estate
investment company. We own, operate, and invest in real estate
through our balance sheet and through our investment management
platform. We focus on multifamily and office properties located in
the Western U.S., U.K., and Ireland. For further information on
Kennedy Wilson, please visit: www.kennedywilson.com.
Special Note Regarding Forward-Looking Statements
Statements in this press release that are not historical facts
are “forward-looking statements” within the meaning of U.S. federal
securities laws. These forward-looking statements are estimates
that reflect our management’s current expectations, are based on
assumptions that may prove to be inaccurate and involve known and
unknown risks. Accordingly, our actual results or performance may
differ materially and adversely from the results or performance
expressed or implied by these forward-looking statements, including
for reasons that are beyond our control. For example, we may not be
able to maintain our current acquisition or disposition pace or
identify future properties to acquire on terms we consider
attractive, and our current property portfolio may not perform as
expected. We may also not be able to achieve the disclosed
projected growth in annual revenues and net operating income at the
pace that we desire or at all. Accordingly, you should not unduly
rely on these statements, which speak only as of the date of this
press release. We assume no duty to update the forward-looking
statements, except as may be required by law.
KW-IR
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version on businesswire.com: https://www.businesswire.com/news/home/20211230005038/en/
Investors Daven Bhavsar, CFA Vice President of Investor
Relations +1 (310) 887-3431 dbhavsar@kennedywilson.com
Media Emily Heidt Director of Public Relations +1 (310)
887-3499 eheidt@kennedywilson.com
Kennedy Wilson (NYSE:KW)
過去 株価チャート
から 6 2024 まで 7 2024
Kennedy Wilson (NYSE:KW)
過去 株価チャート
から 7 2023 まで 7 2024