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OXNARD, CA-A joint venture of Beverly Hills-based Kennedy Wilson, RECP/Urban Partners and Capri Capital Partners has acquired the 400-unit Serenade apartment complex from California Urban Investment Partners for $81.5 million. The property is a resort-style complex that is part of RiverPark, a master-planned development of 702 acres including retailers such as Whole Foods, Target and REI in addition to entertainment, offices, schools and 14 parks.

Robert Hart, president and CEO of Kennedy Wilson Multifamily Management Group, describes the acquisition as “a rare core apartment investment opportunity” that expands the Beverly Hills-based company’s portfolio of multifamily properties in California, where Kennedy Wilson is focusing on supply-constrained infill markets. Kenneth Lombard, president of Capri Urban Investors and partner at Capri Capital Partners, notes that the deal is Capri’s first joint venture with Kennedy Wilson.

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