BEVERLY HILLS, CA - A commingled real estate fund managed by Kennedy Wilson has acquired The Fletcher Southlands, a 320-unit apartment community in Aurora, Colorado, for $94.75 million.
“The Fletcher Southlands is a well-established community in a prime location that provides compelling value-add upside through operational improvements and a targeted renovation program informed by our thorough understanding of the Aurora market,” said Kendrick Askew, Head of Acquisitions for Kennedy Wilson’s multifamily division. “The Fletcher offers residents a significant discount to the cost of owning a home in an outdoor-oriented neighborhood with strong home values and a top-tier public school system. We are eager to deliver top-quality housing in Aurora, especially as new supply is expected to slow in the coming years.”
The three-story community, completed in 2001, offers one, two, three, and four-bedroom garden-style apartment residences with open floor plans. It features a low-density living environment, large units, and plenty of parking. Amenities include a fitness center, pool, dog park, and communal game and dining spaces.
The Fletcher Southlands sits on over 23 acres of land with immediate access to the E-470; the property offers convenient access to major employment hubs, including Denver International Airport, the Denver Tech Center (DTC), and Aurora’s key job centers. Additionally, the residences are situated within the top-rated Cherry Creek School District, which is consistently ranked among the top public-school districts in Colorado.
About Kennedy Wilson: Kennedy Wilson (NYSE: KW) is a leading real estate investment company with $31 billion of assets under management in high growth markets across the United States, the UK and Ireland. Drawing on decades of experience, its relationship-oriented team excels at identifying opportunities and building value through market cycles, closing more than $60 billion in total transactions across the property spectrum since going public in 2009. Kennedy Wilson owns, operates, and builds real estate within its high-quality, core real estate portfolio and through its investment management platform, where the company targets opportunistic equity and debt investments alongside partners. For further information, please visit www.kennedywilson.com
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