11/20/2007

Kennedy Wilson sells four California multi-family properties for $147M

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Creekside Apartments

Beverly Hills, Calif.-based Kennedy Wilson Multifamily Group has recently sold four of its multi-family properties in a series of deals valued at approximately $147 million.

The first property, the Creekside Apartments in San Jose, sold for $35.55 million to Klingbeil Capital Management. Stan Jones and Sal Saglimbeni of Marcus & Millichap represented Kennedy Wilson in the transaction. The 200-unit property is located at 1800 Stokes St.

The second property, the largest of the four, is the 328-unit Windscape Village Apartments at 1300 North L Street in Lompoc. It sold for $42.24 million to LeFever Mattson Inc. Robin Ossenbeck of Hendricks & Partners represented both parties in the deal.

In a deal that closed in October, Kennedy Wilson sold the County Oaks Apartments at 333 East Enos Drive in Santa Maria for $30.25 million. Greg Harris of Marcus & Millichap represented Kennedy Wilson in the sale of the 208-unit property while Ossenbeck again represented LeFever.

The final property sold is Somerset on Garfield, a 256-unit property at 336 N. Garfield Ave. in Montebello. It sold to Advanced Real Estate Services Inc. Kennedy Wilson was represented by Ron Harris and Stew Weston of Marcus & Millichap.

Address: Creekside Apartments at 1800 Stokes St., San Jose, Calif.
- Windscape Village Apartments at 1300 North L St., Lompoc, Calif.
- County Oaks Apartments at 333 E. Enos Drive, Santa Maria, Calif.
- Somerset on Garfield at 336 N. Garfield Ave., Montebello, Calif.

Size: 992 units

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Filed Under: Multi-Family

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