Kennedy Wilson Adds 251-Unit Los Angeles Area Property to Multifamily Portfolio

Kennedy Wilson Adds 251-Unit Los Angeles Area Property to Multifamily Portfolio

BEVERLY HILLS, CA – June 18, 2012 – (RealEstateRama) — International real estate investment and services firm Kennedy Wilson (NYSE: KW) today announced the acquisition of Torrey Pines, a 251-unit apartment community in West Covina, CA. The company and its partners purchased the property for $43.7 million, with $33 million in financing from Freddie Mac at 3.91%, fixed for ten years. The company’s multifamily portfolio currently consists of ownership interests in 14,114 units, including deals currently under contract.

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