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Kennedy-Wilson buys Ore. apartment community for $60M

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Kennedy-Wilson buys Ore. apartment community for $60M

Kennedy-Wilson Holdings Inc. acquired the 179-unit Savier Street Flats apartment community in Portland, Ore.'s Northwest neighborhood for $60 million.

The company paid $27 million in equity and assumed an eight-year $33 million loan with a 3.5% fixed rate for the purchase and is planning a $2 million upgrade of the property.

The property was the company's last asset to be purchased using funds generated from the sale of the 615-unit Summer House in Alameda, Calif., according to a release.