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.