SAN JOSE, CALIF. — Kennedy Wilson Fund VI has acquired a six-building R&D/office portfolio in South San Jose for $53.5 million. The name of the seller was not released.
Totaling 257,000 square feet, the portfolio consists of five single-story R&D buildings and a two-story office building. The portfolio is currently 100 percent occupied by 15 tenants.
The acquisition expands Kennedy Wilson’s presence in Silicon Valley and its growing portfolio of flex office assets across a global footprint. Kennedy Wilson has an 11 percent interest in Fund VI, which has a portfolio that includes 13 multifamily, office, retail and other commercial assets in markets in San Jose, Los Angeles, Salt Lake City, Denver and Seattle. The assets have an aggregate purchase price of $1.1 billion.