BEVERLY HILLS, CA-Locally based Kennedy Wilson has acquired amajority interest in two office buildings totaling 98,928 squarefeet in Carlsbad and has purchased a 17.3-acre residential propertyin Hawaii that includes 63 finished lots and six completed singlefamily homes on a total of 17.3 acres situated on an 18-holechampionship golf course.

The office buildings, called One Carlsbad Research Center, areat 2382 and 2386 Faraday Ave. The minority interest in the projectis held by Kennedy Wilson’s Property Fund I.

As part of the transaction, Kennedy Wilson recapitalized theproperty and extended the loan on the project for an additionalfive years. John Prabhu, president of Kennedy Wilson CommercialInvestment Group, says that the new capital structure will allowthe ownership to aggressively pursue all leasing opportunities inthe market. “The buildings are in close proximity to affluentresidential communities, which will allow us to take advantage oftenant expansions priced out of areas such as Del Mar Heights andLa Jolla,” Prabhu says.