Dec
17
Kennedy Wilson Buys $60M Portland Mixed-Use Community
ByThe two four-story buildings offer a mix of studio, one- and two- bedroom units with an average rental rate of $1,851. The community also includes more than 6,000 square feet of retail space.
Kennedy Wilson has purchased Savier Street Flats, a 179-unit community in Portland, Ore., for $60 million. This transaction marks the company’s third large deal in the Portland area in recent months. Kennedy Wilson secured an eight-year loan for $33 million at a fixed rate of 3.5 percent and invested $27 million in equity. Greystar manages the asset.
Located at 2270 NW Savier St., in Portland’s Northwest neighborhood, the property is close to various shopping, dining and entertainment venues. Additionally, the Portland International Airport is approximately 15 miles away from the community…
