SAN JOSE, CA – Kennedy Wilson, a global real estate investment company, has closed on a three-party joint venture with Hulic Co., Ltd. and Fuyo General Lease (USA) Inc. to buy One South Market, a 312-unit multifamily community in downtown San Jose, California for $176 million. The transaction marks Kennedy Wilson s fifth joint venture with Hulic and its first partnership with Fuyo General Lease (USA) Inc.
Built in 2015, One South Market is located adjacent to San Pedro Square in the heart of downtown San Jose. The high-rise community features 312 residential units averaging approximately 907 square feet, as well as 6,534 square feet of fully leased ground-floor retail. The property provides residents with walkable access to downtown San Jose s dining, entertainment and employment centers, including Adobe, Zoom and the Huge Four accounting firms, as well as convenient access to Diridon Station, regional freeways and San Jose Mineta International Airport.
Our acquisition of One South Market is an exciting milestone for Kennedy Wilson as we build on our longstanding partnership with Hulic and establish our first partnership with Fuyo General Lease, said Kurt Zech, President of Kennedy Wilson s Multifamily division. One South Market offers exceptional long-term fundamentals, driven by its prime downtown location, strong employment base and limited new multifamily supply. With its proximity to major employers, transit and the broader Silicon Valley technology ecosystem, the property provides a unique opportunity to invest in a high-quality asset in one of the country s most dynamic markets.
The investment exemplifies Kennedy Wilson s continued focus on high-quality multifamily assets in markets with major employment hubs and limited new housing supply. Downtown San Jose is positioned within Silicon Valley s broader technology ecosystem, with employers including Adobe, Zoom, Nvidia, Broadcom, Cisco and Samsung.
‘‘We are delighted to make this investment alongside Kennedy Wilson and Hulic, marking our first joint venture collaboration with both companies in North America. By enhancing the quality of life and convenience for local communities, this investment is expected to contribute to a sustainable society. With this partnership as a foundation, we look forward to making further opportunities together in the future, said Hiroyuki Motoshita, Managing Executive Officer, Real Estate Department at Fuyo General Lease Co., Ltd.
We are pleased to have our fifth joint venture investment with Kennedy Wilson and to partner with Fuyo General Lease for the first time. We are currently increasing international investment with trusted partners in areas where continued population and economic growth are expected. We believe this investment in One South Market, a high-quality multifamily community in the heart of downtown San Jose, satisfies our criteria, said Sohei Okuno, Managing Officer, General Manager of Global Investment Department at Hulic Co., Ltd.

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STAFFORD, TX – Walker & Dunlop, Inc. announced that it has arranged a $110,000,000 refinancing for 1879 at the Grid and Arc at the Grid, two Class A multifamily properties totaling 731 units within a 192-acre mixed-use development in Stafford, Texas.
Walker & Dunlop Capital Markets Institutional Advisory arranged the loan as exclusive advisor to Lone Star Funds. Dustin Stolly, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Michael Ianno, and Edward Leboyer arranged the floating-rate, interest-only loan from TPG Real Estate Credit.
1879 at the Grid and Arc at the Grid are well-located multifamily assets that benefit from the continued growth of the Stafford and Sugar Land corridor, said Stolly, senior managing director of Capital Markets Institutional Advisory at Walker & Dunlop. TPG Real Estate Credit recognized the strength of the assets and their position within the Southwest Houston market, as well as Lone Star s reputation as a best-in-class Sponsor, resulting in a financing solution that aligned well with our client s objectives.
Built in 2019 and 2020, respectively, 1879 at the Grid and Arc at the Grid span approximately 653,000 rentable square feet and 731 total units. Both properties feature a mix of studio, one-, two- and three-bedroom residences with modern finishes and open-concept layouts. Amenities include resort-style pools, fitness and wellness centers, resident lounges, coworking spaces, pet parks, outdoor lounges and courtyards, package lockers, detached garages and carports, barbecue areas and fire pits.
Located along the U.S. 90A corridor, 1879 at the Grid and Arc at the Grid offer direct access to Interstate 69, the Sam Houston Tollway and Highway 6, providing access to major Houston employment centers including the Texas Medical Center, Uptown/Galleria, Greenway Plaza, Downtown Houston and the broader Fort Bend County growth corridor. The Stafford and Sugar Land corridors are supported by continued population growth, a diverse employment base and established regional infrastructure.

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ATLANTA, GA – RangeWater Real Estate and Nippon Steel Kowa Real Estate Co. (NSKRE) have broken ground on Ellory House, a 274-apartment community with 39,000 square feet of integrated retail. Ellory House is being constructed at the center of Lulah Hills, EDENS’ transformative 73-acre mixed-use redevelopment of the former North DeKalb Mall.
“We are keen to bring this building to life within Lulah Hills, one of the Atlanta region’s most exciting developments. Ellory House and Lulah Hills will set the standard for walkable, high-quality infill development in this market,” said Brian Oates, Executive Managing Director of Development at RangeWater.
Herbert Ames, Managing Director at EDENS and Southeast regional lead, added, “Our partnership with RangeWater and NSKRE marks an vital milestone in the redevelopment of Lulah Hills, introducing an additional high-quality residential offering and bringing us closer to realizing our vision for a vibrant and connected mixed-use community.”
Ellory House will be located directly along Lulah Hills’ main street, Lulah Avenue, and across from the development’s largest green space, Lemon Park, placing residents at the center of the destination’s retail, dining and gathering spaces. The project will be part of Lulah Hills’ broader development plot, which includes 320,000 square feet of grocery-anchored, high-end retail with for-sale and rental housing oriented around a walkable Main Street.
Lulah Hills is positioned within Atlanta’s established “Eds & Meds” corridor, anchored by major educational, medical and research institutions including Emory University, Emory University Hospital, Children’s Healthcare of Atlanta, Emory Decatur Hospital, the Centers for Disease Control and Prevention, and the Veterans Affairs Hospital. The development also addresses a growing demand for the convenience and connectivity of an urban lifestyle within an established suburban market.
The retail component of the property will further enhance the residential experience, with EDENS constructing a curated mix of local and regional restaurants and businesses, a Publix, and national retail brands.
This development represents RangeWater’s first development deal with NSKRE and the 31st in the Atlanta market and is co-sponsored by EDENS.

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