Kennedy Wilson Fund Drops $141M On Multifamily Properties

Law360 (March 11, 2016) A Kennedy Wilson real estate fund has acquired a pair of multifamily properties in Washington state for a combined $141 million, according to an announcement on Thursday from the Beverly Hills-based global real estate investment firm. Kennedy Wilson Real Estate Fund V has picked up Alara Harbour Pointe in Mukilteo and Tivalli in Lynwood. The firm invested $50 million of equity into the properties and scored $92 million of Freddie Mac debt at 2.23 points above the London Interbank Offered Rate to cover the remainder of the acquisition cost. Kennedy Wilson is represented on the Tivalli deal by Stephen N. Etheredge of Allen Matkins Leck Gamble Mallory & Natsis LLP.