Kennedy has expanded its partnership with Japanese real estate firms Hulic and Kenedix to acquire a $237m (€208m) US multifamily community.
Kennedy Wilson and its long-standing Japanese partners have acquired Carraway, a 421-unit multifamily community in West Harrison, New York.
Completed in 2021, the Westchester County property contains studio, one-bedroom and two-bedroom apartments, alongside structured parking and approximately 6,400sqft of ground-floor retail space.
William McMorrow, chairman and CEO of Kennedy Wilson, said: “Carraway represents a rare opportunity to acquire a high-quality, recently constructed multifamily community in one of the most desirable suburban markets in the New York metropolitan area.
“The acquisition extends Kennedy Wilson’s investment platform across the East Coast and expands our investment management platform alongside our valued partners Kenedix and Hulic.”
Sohei Okuno, managing officer, general manager of global investment department at Hulic, said: “We are pleased to have our fourth JV investment with Kennedy Wilson and Kenedix.
“We are currently increasing international investment with trusted partners in areas where continued population and economic growth are expected. We believe this investment satisfies our criteria.”
Hikaru Teramoto, representative director, president and COO at Kenedix, said: “We are pleased to expand our partnership with Kennedy Wilson and Hulic through the acquisition of Carraway, a high-quality multifamily asset in the New York metropolitan area.
“This investment reflects our continued focus on institutional-grade residential properties in supply-constrained, high-demand markets where we see strong long-term fundamentals supported by durable population trends and proximity to key employment centres.”
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