SEATTLE AND PORTLAND, ORE. — A real estate fund managed by Kennedy Wilson has acquired two multifamily properties in Seattle and Portland for a total of $110 million. Kennedy Wilson has an 11 percent ownership interest in the real estate fund, which purchased the two properties with a total equity investment of $40 million, including closing costs and financed the acquisitions with long-term fixed-rate debt totaling $70 million.
Built in 2018, the 226-unit Axle in Seattle offers one- and two-bedroom floor plans, eight townhomes and a full collection of amenities, including a resident lounge, sky lounge and outdoor deck, coworking spaces, a fitness center, pet run and game room. Built in 2020 in Portland, Denizen features 212 studio, one- and two-bedroom apartments and ground-floor retail space.