(Read more on the multifamily market.)
BEVERLY HILLS, CA-Kennedy Wilson's Multifamily Management Grouphas sold four properties throughout California totaling 992 unitsin 30 days for an aggregate of $147 million. The sales follow thecompany's repositioning of the assets under Kennedy Wilson'sownership, according to Bob Hart, president and CEO of KWMultifamily, which is a subsidiary of Kennedy Wilson.
Hart says that the locally based company will reinvest theproceeds of the sales into other multifamily properties that meetthe firm's criteria of under-performing assets in urban markets. Headds that Kennedy Wilson sees continued opportunities in themultifamily arena in light of the changes occurring in the housingand capital markets.
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