Kennedy Wilson Takes Upscale Hayward Complex in $87M Deal
- Jun 13, 2012
Kennedy Wilson has recently completed the $86.5 million acquisition of the Waterford, a 544-unit complex in Hayward. Most of the financing–$68.1 million–was secured through Freddie Mac. Terms are for a 10-year fixed rate of 3.69 percent.
The Beverly Hills, Calif.-based firm described the deal as a strategic move into the Bay Area market, near the San Mateo Bridge and Silicon Valley. Kennedy Wilson Multi-Family Management group president Robert Hart called the Waterford “a very attractive investment.”
The latest pickup brings Kennedy Wilson’s national multifamily portfolio to 14,114 units.
The complex is comprised of 29 two and three-story buildings. Amenities include a fitness center, two swimming pools, spas and a children’s playground. The new owners intend to invest in the property’s curb appeal with planned improvements that include upgrades to landscaping and building exteriors.
For a more in-depth look at Kennedy Wilson’s endeavors click here.