BEVERLY HILLS, CA – Global real estate investment company Kennedy Wilson and its partners have bought in separate transactions Central Park Commons, a 180-unit garden-style apartment community in Meridian, Idaho; Paceline, a 221-unit apartment community in Shoreline, Washington; and AYA ABQ, a 504-unit garden-style apartment community in Albuquerque, New Mexico for a total $264 million, excluding closing costs.
Kennedy Wilson has an approximate 50% ownership in these acquisitions, which were completed within the company s co-investment portfolio. Kennedy Wilson and its partners invested $149 million of total equity, including $75 million by Kennedy Wilson and the properties are expected to add approximately $11 million of initial annual net operating income, including $6 million to Kennedy Wilson.
Beginning immediately, Kennedy Wilson will implement value-add asset management plans at the three communities, including renovating unit interiors, refreshing common areas and enhancing amenities.
Central Park Commons, Paceline and AYA are ideal additions to our growing collection of properties that cater to residents seeking a suburban, outdoor-oriented lifestyle within close range of the economic vibrancy of downtown Boise, Seattle and Albuquerque, said Kurt Zech, President of Kennedy Wilson s multifamily division. Identifying high-quality communities that provide relative affordability in burgeoning markets is the hallmark of Kennedy Wilson s West Coast multifamily investment process, and we are excited to build on that strategy while making additional value and expanding our presence in these key markets with the support of our strategic partners.

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GAINESVILLE, FL – The Collier Companies, partnering with ApexOne Investment Partners, is proud to announce the acquisition of The Gathering at Arbor Greens, a luxurious, 255 apartment-home community located in Newberry, Florida
The Gathering at Arbor Greens is the latest addition to The Collier Companies’ growing portfolio as the company doubles in size within the next decade.
Built in 2019, The Gathering is well-appointed with spacious floorplans boasting designer apartment features as well as coveted amenities including air-conditioned interior corridors, covered poolside veranda and dining area, double-sided outdoor fireplace, game room, resort-style swimming pool, large pet park and more. It is located within walking distance of Town of Tioga, a high-end town center, and a 10-minute drive to I-75, retail shopping, restaurants, and North Florida Regional Medical Center.
The Gathering at Arbor Greens is the fifth community The Collier Companies has bought with ApexOne, and the first community in the growing Newberry/Jonesville area. The two companies have benefitted from a long and successful partnership having previously teamed-up to buy communities in Ocala, Port Orange and Tallahassee, Florida.

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PHOENIX, AZ – CIM Group, a community-focused real estate and infrastructure owner, operator, lender, and developer, in partnership with Tides Equities, a leading investment firm specializing in value-add multifamily real estate throughout the Western U.S., announced that it has bought Del Mar Terrace, a 1,012-unit apartment community in Phoenix, Arizona in a $255 million off-market transaction. Del Mar Terrace is the largest market rate apartment community, based on unit count, in the greater Phoenix area, and the sale, based on price, is the second-largest, single asset, multifamily sale in Arizona history.
Originally built in 1985, Del Mar Terrace is a classic garden-style community, with 48 two-tale buildings, spread across the approximately 34.9-acre site in Phoenix s Maryvale submarket. The property offers spacious one- and two-bedroom apartment residences, with an average unit size of 709 square feet, and access to desirable community amenities including multiple resort-style swimming pools, state-of-the-art fitness center, clubhouse, playground, soccer field, and picnic areas. The Maryvale submarket provides a robust culture scene, strong school systems and simple access to top employment centers, attributes that make it an attractive residential area.
CIM Group is actively acquiring well-located apartment communities in growth markets with strong demographics, and nearby retail, entertainment and recreation amenities such as Del Mar Terrace. This is an established community where we will invest in program of improvements that will benefit current and future residents, said Shaul Kuba, Co-Founder and Principal, CIM Group.
As the largest fully market rate property in Arizona, Del Mar Terrace provides Tides Equities and CIM immediate scale in a submarket that continues to see exceedingly strong rent growth and upward trajectory. Procured off-market from the original developer in 1985, Del Mar Terrace is in uniquely classic condition and is primed for a full Tides rebrand and transformation, said Ryan Andrade, Co-Founder and Principal, Tides Equities. This buy marks Tides 57th acquisition in the greater Phoenix area and the team s 107th acquisition in the Western U.S. since 2016.
Bought from the original owner, the partnership will rebrand the community as The Tides on 71st and do an approximately $19 million capital improvement plot to renovate and upgrade this high-profile property.
Del Mar Terrace is located at 7007 W. Indian School Rd., conveniently near several premier entertainment and professional sports venues such as Gila River Arena and the Westgate Entertainment District, State Farm Stadium, and Camelback Ranch-Glendale. The property is near the I-10, US-60, and Loop 101 freeways, providing simple access to Downtown Phoenix, Downtown Glendale, Scottsdale, and Tempe, and is within a 20-minute drive to Phoenix Sky Harbor Airport.

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