The $200 million proposal from the Property Markets Group would be built in three phases to include three towers.
Kennedy Wilson invested approximately $11 million of equity, including closing costs, and secured a $14-million loan from Freddie Mac at a fixed rate of 4.33% for 10 years.
The joint venture says it already has more than $85 million in projects in its pipeline.
Sponsored by EBI Consulting
Interested in purchasing a newer building? Learn why a comprehensive due diligence assessment is a smart choice to better evaluate the property and understand management costs.
Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!
- Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
- Exclusive discounts on ALM and GlobeSt events.
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.
Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.