REBusinessOnline

Kennedy Wilson Fund Buys 451-Unit Apartment Community in Bellevue for $172M

BELLEVUE, WASH. — Kennedy Wilson Real Estate Fund V has purchased a 451-unit apartment community in Bellevue named LIV Bel-Red for $172 million. The Class A community is located at 2170 Bel-Red Road.

The property was built in 2015. Notable employers in the area include Microsoft’s world headquarters, Boeing, Expedia, Salesforce and Symetra Financial.

The fund invested $58 million of equity and secured a 10-year loan of $115 million through Fannie Mae for the acquisition. Kennedy Wilson is a 12 percent investor in Fund V.

Content Partners
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‣ NAI Global
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‣ Walker & Dunlop

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