LOS ANGELES, CA – AHF, the largest global AIDS organization, under its Healthy Housing Foundation banner, announced the buy of the historic Barclay Hotel, a 158-unit, 1896-era hotel in downtown Los Angeles, that it will repurpose as housing for extremely-low-income and/or formerly homeless individuals. Due to the COVID-19 pandemic, but, no formal ribbon-cutting event or ceremony will take place at this time.
To mark the acquisition and promote the adaptive reuse of existing older buildings as affordable housing stock, the Healthy Housing Foundation will also run a full-page advocacy ad in Sunday s Los Angeles Times.
The Barclay Hotel becomes the eleventh hotel or motel in the Los Angeles area that Healthy Housing Foundation has bought and repurposed as homeless or extremely-low-income housing since 2017 when AHF first kicked off its housing program. In addition to the Barclay Hotel, Healthy Housing also has one additional L.A. area hotel buy for use as affordable housing pending, near HHF s Sinclair Hotel, which became part of AHF s ‘family of housing in April. The organization is also well underway with plans and permitting to build a new, 250+ unit affordable housing development on L.A. s Skid Row using pre-fab elements that will be built on two development lots next to HHF s Madison Hotel, the first hotel property in Healthy Housing Foundation s portfolio. In Fort Lauderdale, AHF is also well underway with plans for a newly built, state-of-the-art affordable housing complex that will include over 500 micro-units.
AHF launched Healthy Housing Foundation in 2017 to address the rampant affordable housing crisis sweeping the nation by providing quick, simple, and compassionate access to affordable housing with a focus on addressing the needs of low-income individuals, struggling families, youth, and those living with chronic illness.
AHF s Healthy Housing Foundation focuses on the quicker, much less expensive model of adaptive reuse of existing buildings, repurposing them as housing for those previously unsheltered, homeless and/or for extremely-low-income individuals, said Michael Weinstein, president of AHF. We previously renovated and repurposed ten historic or older Los Angeles buildings, and with this latest building, AHF has now made a combined total of 1,183 units in L.A. in our effort to more quickly house individuals and families. Due to the enormity of the homeless and housing affordability crises, we need viable solutions that are economic and quick because communities—and the people in those communities—simply cannot wait any longer.

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DALLAS, TX – KKR, a leading global investment firm; Kairoi Residential (Kairoi), a national multifamily investment, development, and property management company; KBS, one of the most prominent investors in premier commercial real estate; and Southern Land Company (SLC), a national real estate developer of mixed-use developments and master-plotted communities, announced that KKR and Kairoi have bought Novē at Knox, from KBS and SLC. Kairoi will operate the hospitality-inspired property. Novē at Knox was developed and operated by SLC in partnership with KBS.
Completed in March 2021, Novē at Knox is a 19-tale, 310-unit Class A luxury multifamily complex in the Knox/Henderson district near Downtown Dallas, Texas within walking distance to high-end entertainment, dining, and shopping venues. The property features state-of-the art appliances, personal washers and dryers, luxury finishes, 10-foot ceilings, and floor-to-ceiling windows with sweeping views of the city. Common-area amenities at the property include 10,000 square feet of private open space, 24-hour concierge service, a 465-space parking garage with valet, a year-round pool and fitness center, indoor and outdoor community recreation and entertainment spaces, a business center, and a dog park and washing station.
Our acquisition of Novē at Knox strengthens our already deep presence in the highly-attractive Sun Belt region which continues to benefit from net migration as a result of strong employment growth and attractive lifestyle benefits, said Chris Lee, partner and head of real estate Americas at KKR. Novē at Knox is a landmark luxury property ideally located in Dallas go-to locale for individuals seeking a dynamic destination to live and work. We believe this property is poised to benefit from Dallas strong economic fundamentals in the years to come.
The buy grows KKR s residential real estate footprint in the Sun Belt to more than 2,500 high quality apartment units. Including Novē at Knox, KKR has bought approximately $1.8 billion of Class A apartments for its core plus real estate strategy over the last 12 months with a focus on dynamic, high-growth markets across the United States.
High-end multifamily properties like Novē at Knox, located in thriving Texas markets like Dallas, are increasingly attracting investors, says Gio Cordoves, Western regional president for KBS. In fact, KBS has been ahead of the curve in monitoring population in-migration to these markets. Recently, Dallas was ranked second among Texas counties where people were relocating, supporting our development of this asset. As Dallas continues to attract residents from other parts of the country, demand for top-tier multifamily properties like Novē at Knox is on the rise in this market.
Novē at Knox presented an brilliant opportunity for KBS to leverage its deep office and local market expertise in this region to develop a luxury apartment complex within the Dallas metro, says Brett Merz, asset manager for Novē at Knox and senior vice president at KBS. This is an extremely desirable property for investors in this market.
KBS is the asset manager of several best-in-class office properties in the Dallas/Fort Worth market, including 3811 Turtle Creek, Highland Park Place, Legacy Town Center I-III, Preston Commons, Providence Towers, Sterling Plaza and Tollway North Office Park, among others.
The ability to collaborate with KBS on this project and deliver a one-of-a-kind luxury asset in the middle of a pandemic is an outstanding accomplishment, says Tim Downey, founder, and CEO of Southern Land Company. We remain proud of what we made with Novē at Knox and the lifestyles it offers residents in such a vibrant area of Dallas.
This is a very well-appointed apartment complex with spectacular views, unmatched services and a highly desirable location, said Madison Marceau, president of acquisitions at Kairoi. We are pleased to participate in this transaction with KBS and Southern Land Company who have positioned this property for long-term success and to collaborate on another fantastic investment with KKR.

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BEVERLY HILLS, CA – Building on a unique public-private partnership with California State University Channel Islands (CSUCI), global real estate investment company Kennedy Wilson (NYSE: KW) has signed a long-term ground lease for a 32-acre parcel in Camarillo, California owned by the University and unveiled plans for a new mixed-residential community.
The soon-to-be-named development project contributes to Kennedy Wilson s growing global development pipeline totaling approximately 4,700 multifamily units that are currently expected to deliver by 2024 and will expand Kennedy Wilson s global multifamily portfolio to over 33,000 units once they are complete.
Kennedy Wilson was awarded the development opportunity via public RFP and has re-entitled the land for a master plot that will deliver 310 market-rate apartments, 109 for-sale homes, 170 income-restricted apartments for seniors, as well as community-serving amenities to the University-adjacent site at the western edge of the Santa Monica Mountains.
Developing this new community is an vital step in our larger partnership with CSUCI and will meaningfully contribute to a region that is small on supply of high-quality apartments and homes for faculty, staff and local residents, said Kennedy Wilson Managing Director Nick Bridges, who structured the partnership with CSUCI. Many people are rethinking how and where they want to live, and we continue to see a trend of residents moving from city centers towards communities that have access to the outdoors, are commutable to major employment centers, and are relatively affordable. Camarillo and CSUCI are uniquely positioned to benefit from this renewed interest in suburban living.
As master developer, Kennedy Wilson has assembled a top-tier team that will break ground in Q4 2021. Kennedy Wilson will develop the wholly owned apartments and Kennedy Wilson s affordable housing joint venture, Vintage Housing, will use a combination of affordable housing tax credits and other financing sources to build and offer 170 apartment homes to income-qualified seniors. The townhome sites will be built and sold by Comstock Homes in a joint venture that includes Kennedy Wilson as a minority partner, as well as Hearthstone.
We are thrilled to see the site s redevelopment process start, and to go ahead on a pioneering public-private partnership that will also generate a significant revenue stream to benefit our campus s future growth for years to come, as well as provide housing options for our faculty, staff and other community members, said CSUCI Interim President Richard Yao, Ph.D. We value our partnership with Kennedy Wilson and their proven commitment to building and maintaining strong communities, and we look forward to working together to bring our shared vision to life.
The project is a continuation of a seven-year partnership between Kennedy Wilson and CSUCI. Kennedy Wilson originally bought an existing wholly owned 386-unit apartment community and the 15,000 square feet of retail from CSUCI in the adjacent University Glen neighborhood in 2016 and has since invested approximately $8 million to enhance unit interiors and the community s amenities.
Kennedy Wilson has also committed $1.5 million toward the future construction of an Early Childhood Education center on the CSUCI campus to provide affordable, high-quality early childhood education to the region s underserved population. The center will serve as a training experience for students in the University s School of Education and will provide support to student parents in attaining their educational goals.
Including this 32-acre development in Camarillo, CA, Kennedy Wilson is progressing on a 3,800-unit Western U.S. development pipeline, including the second phase of construction at 38° North in Santa Rosa, California; The Oxbow in Bozeman, Montana; and Dovetail in Boise, Idaho. Within the Western U.S. development pipeline, approximately 1,600 units are under construction through Vintage Housing, Kennedy Wilson s growing affordable and senior housing joint venture. In Ireland, where Kennedy Wilson is one of the country s most active multifamily real estate investors and operators, nearly 1,000 new multifamily units are in various stages of development at prominent Dublin projects including The Cornerstone on the former Leisureplex site, The Grange and Coopers Cross.

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