BEVERLY HILLS, CA - International real estate investment and services firm Kennedy Wilson (NYSE: KW) today announced that it offered and sold 29 condominiums at Broadway Park Lofts for $4.4 million at its Salt Lake City, UT auction on November 5, 2011.
“These auction results demonstrate a developer overcoming the challenges in the current economic environment,” commented Rhett Winchell, president of KW Auction Group. “Kennedy Wilson succeeded by bringing the developer and the customer together in a competitive marketplace, and with the standing inventory sold, the developer can now move forward with the project.”
Kennedy Wilson will auction 45 lakefront condominiums and three commercial lots at The Residences at Muskoka Wharf in the Cottage Country of Ontario, Canada on December 4. The company will also auction more than 150 bank-owned properties located in major metropolitan areas of Texas on December 10. The portfolio was previously valued at over $75 million and includes malls, retail centers, commercial buildings, homes, condos, duplexes and land parcels.
About Founded in 1977, Kennedy Wilson is an international real estate investment and services company headquartered in Beverly Hills, CA with 23 offices in the U.S., Europe and Japan. The company offers a comprehensive array of real estate services including auction, conventional sales, property services and investment management. Through its fund management and separate account businesses, Kennedy Wilson is a strategic investor of real estate investments in the U.S., Europe and Japan.
Source: Kennedy Wilson / #Lofts #Auction