GE REAL ESTATE PROVIDES $30 MILLION ACQUISITION LOAN FOR APARTMENT COMPLEX

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KENT, WASH. — GE Real Estate has provided a $30 million loan to Beverly Hills, Calif.-based Kennedy Wilson Inc. for the acquisition and repositioning of James Street Crossing Apartments. Located in Kent, the 300-unit complex includes 21 garden-style apartments buildings, a leasing office, a clubhouse and a fitness center. At the time of acquisition, the property was 93 percent occupied. The borrower plans to invest $3.81 million for interior and exterior renovations and increase the number of outdoor parking spaces.

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