Kennedy Wilson and Partners Acquire 409-Unit Apartment Community in Northern California for $64M

Kennedy Wilson

today announced the acquisition of Capitol Towers, a 409-unit apartment community in Sacramento, CA. The company and its partners purchased the property for $64 million, with $50 million in financing from HFF/Freddie Mac at 3.51%, fixed for seven years. Kennedy Wilson will invest 50% of the equity in the deal. The acquisition increases the company's multifamily portfolio to ownership interests in 13,876 units, including deals currently under contract.