The real estate investment company Kennedy Wilson (NYSE: KW) has partnered with Kenedix, Inc. and Hulic Co. Ltd. on the $173 million acquisition of The Danforth, a 265-unit multifamily community in Seattle.
The 16-story Danforth was constructed in 2018 at the intersection of Seattle’s First Hill and Capitol Hill neighborhoods. The property features one-, two-, and three-bedroom layouts; a Whole Foods Market occupies the ground floor-level retail space. The residents’ amenities include a Studio Fit fitness center, rooftop solarium and dog run, a resident lounge with shuffleboard and media center, a full demonstration kitchen, and a BBQ patio with multiple grills.
“Given our 30-year history in Japan, we are proud to continue the growth of our investment management platform alongside these two prestigious companies that are aligned with our investment strategy and our focus on delivering quality housing within growing Pacific Northwest markets,” said William McMorrow, Chairman and CEO of Kennedy Wilson. “The Danforth provides an opportunity to acquire a recently built community at a discount to replacement cost within an area experiencing limited new construction and strong absorption due to recent return-to-office initiatives from leading technology employers.”
