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Kennedy Wilson Buys Hamilton Landing Office Campus in North Bay Area for $115M

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The seven-building Hamilton Landing campus in Marin County, Calif., features 406,000 square feet of Class A office space.

NOVATO, CALIF. — Kennedy Wilson has acquired Hamilton Landing, a wholly owned office campus situated on 20 acres in Novato, a North Bay Area town in Marin County. An undisclosed seller sold the asset for $115 million. For the acquisition, Kennedy Wilson invested $55 million of equity and assumed a $60 million, interest-only loan at a fixed interest rate of 4.34 percent that matures in 2025.

Built in the 1930s as an Air Force Base, Hamilton Landing was decommissioned in the 1970s and converted into Class A creative office space in phases between 2000 and 2008. The seven-building campus offers a total of 406,000 square feet of office space.

Kennedy Wilson purchased the office campus through a 1031 exchange with proceeds generated from the recent sale of two multifamily properties.

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