PITTSBURG, CA—Kennedy Wilson has acquiredKirker Creek Apartments, a 542-unit comples inPittsburg.
Walker & Dunlop, Inc. provided $77.2million in financing to Kennedy Wilson. Kirker Creek Apartments isa gated garden-style apartment community inPittsburg, that offers amenities including a 24-hour fitnessfacility, business center, three pools, racquetball courts andpicnic areas.
Walker & Dunlop rate locked the loan 45hours after receiving a signed application utilizingFannie Mae's Early Rate Lock execution.
“We are pleased to expand our current portfolio of more than 4,900apartment units in the East Bay with the acquisition of KirkerCreek Apartments,” said Kurt Zech, president ofKennedy Wilson's multifamily management group.Walker & Dunlop¹s due diligence gave us confidence that FannieMae's Early Rate Lock execution was the right answer for thistransaction and we appreciate their commitment to understanding ourbusiness needs.”
Los Angeles-based senior vice president, TrevorFase led the Walker & Dunlop team that structured theloan with a 10-year term and five years interest only.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
