Kennedy Wilson and Haseko Acquire Two Multifamily Communities in Vancouver, Washington for $90 Million

Kennedy Wilson’s real estate fund, in partnership with Haseko Corporation, has acquired The Farmstead and Villas at 28th Street communities in Vancouver, Washington. The purchase, totaling 350 multifamily units, amounts to $90 million. These new additions bolster Kennedy Wilson’s substantial presence in the Pacific Northwest, with nearly 13,000 market rate and affordable apartment units.

William McMorrow, Kennedy Wilson’s Chairman and CEO, noted, “This transaction aligns with our strategy of expanding our investment management platform with strong partners while drawing on our extensive experience in Pacific Northwest multifamily investments.”

Kain Matsumoto, Chairman and President of Haseko North America, Inc., emphasized the significance of this partnership in their growth strategy within the mainland U.S., marking a pivotal step towards their goal of achieving $100 million in annual profit. Laurie Mathers, Head of Investment and Asset Management at Haseko North America, Inc., expressed gratitude for the smooth closing and highlighted their commitment to the U.S. multi-family sector.

The newly acquired communities offer diverse floor plans and extensive amenities, including fitness centers, dog parks, and natural green spaces, enhancing residents’ living experiences. Situated strategically near Portland, Oregon, these communities provide connectivity to employment opportunities, recreational facilities, and dining options.

Vancouver’s robust market fundamentals and substantial population growth have been attributed to key developments such as the Vancouver Waterfront expansion and downtown revitalization, coupled with a favorable business environment.

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