SEATTLE, WA – Kennedy Wilson and the Real Estate business within Goldman Sachs Asset Management have bought Coppins Well, a 236-unit high-rise apartment community in Seattle, Washington for $106.5 million, excluding closing costs. Completed in 2012, the 17-tale building complements Kennedy Wilson s significant multifamily presence in Washington, which now exceeds 10,000 market rate and affordable units.
The acquisition of Coppins Well furthers our strategy of upgrading our portfolio with attractive investments in high-growth markets across the Western U.S. that offer a fantastic quality of life for residents, said Senior Managing Director Shem Streeter, who leads acquisitions for Kennedy Wilson s multifamily division. Coppins Well was a unique opportunity for our team to buy a well-built, infill community at a discount to replacement cost within Seattle s urban core, where residents have generally maintained their employment and high incomes over the past 18 months through the uncertainty of the pandemic.
Kennedy Wilson has a 30% ownership interest in Coppins Well, which the partnership bought with a total equity investment of $44 million and a $66 million loan, and currently generates $3.5 million of net operating income. Beginning immediately, the team will roll out a value-add asset management plot that includes investing approximately $4 million to renovate unit interiors, refresh common areas and enhance amenities to improve the renter experience. The urban community currently features studio, one- and two-bedroom units and offers residents access to significant amenities including a movie lounge, fitness center and dog runs as well as a coffee house, restaurant and bank on the ground floor.
The Seattle MSA is one of the fastest growing markets in the United States and boasts a diversified economy with strong employment drivers. Listed among the most educated cities in the world, Seattle has emerged as a major global hub for leading technology, medical, and life science companies. The increasingly diverse economic base is also a host to well-established industries including aerospace, transport and tourism that have attracted young, educated professionals in search of well-paying jobs and a high quality of life.

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SAN DIEGO, CA – Pre-leasing is underway at 525 Olive,­ a nearly 300,000-square-foot luxury apartment community in Bankers Hill being developed by global real estate leader Greystar ­in conjunction with St. Paul’s Episcopal Cathedral. Offering panoramic views of San Diego’s famed Balboa Park, the more than $100.2 million project is slated for completion in April 2022, with go-ins to start in April.
According to Raul Tamez, director of development for Greystar, the 20-tale luxury community is San Diego’s answer to New York’s Central Park living – providing simple access to the city’s urban playground, Balboa Park, which features over 1,200 acres of natural outdoor space.
“With its elevated Bankers Hill location, 525 Olive is now the highest residential address in San Diego, offering sweeping city, bay and park views. This is an extraordinary opportunity to live in one of San Diego’s most walkable and bikeable neighborhoods, offering close proximity to not only Balboa Park, but also dozens of nearby shops and restaurants, and other vibrant areas such as Downtown, Small Italy, Hillcrest and Mission Hills,” Tamez said.
Greystar, a leading residential real estate manager and developer – bought the .59-acre parcel of land from St. Paul’s in 2019 and construction commenced shortly thereafter. As part of the transaction, the church will occupy 10,000 square feet on 525 Olive’s first floor and 8,500 square feet on the bottom level as well as use of the underground parking garage. The 204 total residences will include studio, one-, two-, three-bedroom floor plans, plus penthouse suites, with homes spanning 533 to 1,625 square feet.
Designed to condominium standards, 525 Olive homes are outfitted with modern wide wood plank style flooring, private patios or balconies and state of the art touches, such as auto shades, WiFi enabled LG thermostats, keyless entry doors and much more. Kitchens are equipped with top-of-the-line Fisher & Paykel appliances, sturdy quartz countertops and stylish herringbone tile backsplash. Twelve penthouse residences span the top two floors and range from 1,280 to 1,625 square feet with upgraded finishes, more expansive floor plans and unobstructed city views. Furthering the homes’ sophisticated motif, all interiors were artfully designed to reflect the building’s lush setting, with clean lines and a neutral color palette connecting to the surrounding trees, sky and water, and floor-to-ceiling glass windows to maximize city and park panoramas.
While 525 Olive is contemporary in style, elements of the building have been carefully designed to complement the neighboring church – a neo-gothic style structure built in 1951 – as well as the nearby park and the surrounding neighborhood. The striking ground floor lobby area – with bold modern accents, organic fine touches and an understated color palette – also encompasses a soon-to-be named retail venue, plus the community’s leasing office, mail area, multiple courtyards and the outdoor dog run. Dramatic amenity spaces include the Level 20 SkyClub, a rooftop retreat that spans the entire top floor and includes a clubroom with kitchen and TVs, the Park Lounge social area with a food bar, and the Sun Club with a sparkling rooftop swimming pool and lounge. Rounding out the amenity line up: an expansive indoor/outdoor fitness studio, courtyards with plenty of outdoor seating, a dog run and pet spa with grooming services and work lounge with Zoom conference rooms. Residents also have access to concierge services, 24-hour package reception, reservable bikes as well as a 15,000 square foot community park.
The builder for the project is Greystar Construction Group, with architecture by Joseph Wong Design Associates and interior design by the Jules Wilson Design Studio.

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DALLAS, TX – National multifamily real estate development leader Wood Partners announced the groundbreaking of its newest luxury residential community, Alta at The Farm, located in the Dallasarea. With construction on the new apartment community currently underway, Alta at The Farm is scheduled to open in early 2023.
Alta at The Farm will be ideally situated within The Farm, a newly constructed 135-acre mixed-use development in the prominent Dallas suburb of Allen, TX. At full build-out, The Farm will host a mix of office, retail, entertainment, and residential facilities. Unique highlights of The Farm will include a 16-acre greenbelt and open space spanning the entire length of the development, a 2.5-acre lake and boardwalk with numerous dining options, multiple pocket parks and multi-use trails that connect to the broader Allen trail system. Furthermore, Alta at The Farm will be right next door to the first Texas location of The Hub, a multifaceted outdoor entertainment and retail venue that originated in Watersound Beach along 30A in the Florida Panhandle.
“We are excited to continue growing Wood Partners’ portfolio of properties in the Dallas/Fort Worth area with the groundbreaking of Alta at The Farm,” said Ryan Miller, Managing Director for Wood Partners. “The Farm master development will offer an incredible collection of both boutique and name-brand restaurant, shopping, and entertainment options. Additionally, outdoor enthusiasts young and ancient will be captivated by the multitude of outdoor experiences available to them across the acres and acres of parks, open space, and trails nearby.”
“The Farm will be an exciting new opportunity for live, work and play in the city of Allen, and we are thrilled to have Alta at The Farm as part of this fantastic project,” said Bruce Heller, president of JaRyCo. “Working with fantastic companies like Wood Partners is a key part of our strategy in making this fantastic development come to life.”
Alta at The Farm’s midrise design will feature 325 apartment homes, offering residents a mix of studio, one- and two-bedroom floor plans. Each unit will provide best-in-class finishes including high-end kitchens featuring granite countertops, stainless steel appliances, upgraded fixtures, and tile backsplash, as well as in-unit technology, keyless entry, wood plank flooring and in-unit washer and dryer sets. The development will also offer residents access to a top-tier amenities package, headlined by a resort-style pool with tanning ledges, a second courtyard with grilling areas and fire pits, a community clubhouse featuring a state-of-the-art fitness facility, private fitness micro-studios, and a Sky Room and roof deck overlooking West Lake Park. There will also be remote working areas, social gathering spaces, and enhanced Wi-Fi throughout the common areas.
Situated along US 75 and the Sam Rayburn Tollway, the property will provide simple access to local shopping, dining, and entertainment, as well as major employers including Globe Life Insurance, Medical City McKinney, Emerson, Methodist McKinney Hospital and Raytheon. Legacy West and the North Platinum corridor are also just a few miles down the Sam Rayburn Tollway. Additionally, Alta at The Farm will be located within 25 minutes of DFW and Like Field airports for convenient travel in and out of the city.
“With its prime location and expansive list of attractions on-property and within The Farm community, Alta at The Farm will offer residents an ideal combination of city living blended with the charm of one of Dallas’ most sought after suburbs,” added Miller. “We look forward to the community’s grand opening early next year.”

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