**Toll Brothers, Kennedy Wilson Close on $132M Georgia Tech Student Housing Deal**
Toll Brothers has sold a 752-bed off-campus student housing project known as “Kinetic” for approximately $132 million. The buyer in the transaction was Kennedy Wilson.
The property is located at 1025 Spring Street, just east of the Georgia Tech campus in Midtown Atlanta. Construction on the project was completed last year, with student residents moving in at the start of the fall semester.
Kinetic features 239 residential units offering a variety of one- to five-bedroom floor plans. Residents have access to high-end communal amenities, including a sky lounge, a state-of-the-art fitness center with sauna, and an e-sports gaming lounge.
This sale is part of a larger strategic transaction between Toll Brothers and Kennedy Wilson. Last year, Kennedy Wilson entered into an agreement to acquire Toll Brothers’ multifamily development platform, Toll Brothers Apartment Living. The acquisition includes the transition of more than $5 billion in multifamily assets from Toll Brothers to Kennedy Wilson.
