**Kennedy Wilson Fund Acquires Two Southwest Apartment Communities for $166M**
A real estate fund managed by Kennedy Wilson has purchased two multifamily properties in separate transactions for a combined total of $166 million, excluding closing costs. The acquisitions include Tides on Commerce, a 336-unit apartment community in North Las Vegas, Nevada, and Finisterra, a 356-unit apartment community in Tempe, Arizona.
The fund committed $61 million in equity for the acquisitions. Kennedy Wilson holds an approximately 14% stake in the commingled fund and serves as the asset manager for both properties.
Tides on Commerce is located in North Las Vegas, the second fastest-growing city in Nevada between 2020 and 2023. The community offers residents convenient access to major employment hubs such as Apex Industrial Park and the VA Southern Nevada Hospital.
Finisterra is situated in the South Tempe submarket in Arizona. The property is close to major retailers like Costco, Walmart, Lifetime Fitness, and Ikea, and offers easy access to outdoor recreation at the Tempe Sports Complex.
These acquisitions expand Kennedy Wilson’s multifamily portfolio, furthering its investment in the sector with an interest in nearly 40,000 residential units.
