SAN FRANCISCO, CA – Global real estate investment company Kennedy Wilson announced the sale of the Bay Village Apartments in the San Francisco suburb of Vallejo, California. Kennedy Wilson had a 50% ownership in the 260-unit property that was bought alongside a joint-venture partner in 2010.

Since 2010, Kennedy Wilson increased net operating income at Bay Village by 121%, resulting in a pre-tax gain on sale of $20 million to Kennedy Wilson.

“This sale enables us to recycle capital into other strategic investment opportunities that we plot to close this month,” said Kurt Zech, President of Kennedy Wilson’s multifamily division. “We are proud of the value-add program we implemented at this well-located property that has benefited from its proximity to job centers and schools, as well as the continued strong demand for attainable rental housing in the North Bay.”

Located at 1107 Porter Street, Bay Village Apartments are situated on a waterfront bluff two miles from downtown Vallejo. The collection of one- and two-bedroom apartment homes across 41 two-tale buildings on 18.5 acres was originally built in 1988 and has undergone significant improvements, including exterior renovations and unit upgrades under Kennedy Wilson’s ownership. The clubhouse was also completely remodeled, including an expanded fitness center for residents.

Kennedy Wilson maintains a large presence in Northern California with an ownership interest in over 800,000 commercial square feet and approximately 2,900 multifamily units. Globally, Kennedy Wilson holds an ownership interest in over 27,000 multifamily units, including approximately 3,400 multifamily units under development or in design.

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IRVING, TX – JPI, a leader in the development of Class A multifamily housing, announced the sale of Jefferson Riverside, its latest project in Las Colinas. Located in the heart of the booming master-plotted community, Jefferson Riverside is a 371-home mid-rise development distinctively designed to serve the residents of the area.

“We’ve called Las Colinas home for a long time,” said Matt Brendel, division president and managing partner for JPI’s central region. “Las Colinas has experienced unprecedented growth over the last few years. It gives us fantastic pride to deliver another top-of-the-line community to this area – a place that residents can be proud to call home.”

Jefferson Riverside, developed and built by JPI in 2017, sits on 4.68 acres and is within walking distance of a DART rail station. In addition to convenient access to transportation, Jefferson Riverside is within walking distance of the new Toyota Music Factory, a world-class entertainment destination that contains The Pavilion, a groundbreaking concert venue; an Alamo Drafthouse, and numerous dining and nightlife options.

Jefferson Riverside’s amenities are unlike others in the area. The community features a luxurious clubhouse with a unique 24-hour Uber pickup lounge, a resort-style pool, 24-hour game lounge, Luxer One package lockers, a convenient shipping package storage option, Avenue C micro-market, two private courtyards, a state-of-the-art fitness center with yoga studio and a fifth-floor amenity deck overlooking gorgeous Lake Carolyn. There is no doubt this community shines among its competitors in the market.

JPI is a national developer, builder and investment manager of Class A multifamily assets across the U.S. and is the most active multifamily developer in Dallas-Fort Worth, with over 4,000 apartment homes under construction. With a 30-year history of successful developments throughout major U.S. markets and an unparalleled depth of industry-specific experience, JPI stands among the most active privately held real estate companies in the country. 

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WOODLANDS, TX – Olympus Property reports the successful closing of Broadstone Sierra Pines, a Class-A garden style community built in 2014 and located in the prestigious Woodlands, Texas. Effective immediately, the asset will be renamed Olympus Sierra Pines.

Olympus Sierra Pines will be the fourth asset added to Opportunity Fund II, offering investors direct participation in a diversified portfolio of Class A multifamily projects, consisting of development projects, lease-up properties, and fully stabilized assets. The Fund provides immediate geographic, size, and price point diversification for its investors and Olympus Property. 

“Our second Opportunity Fund is based on the same core competencies and investment criteria that Olympus has utilized over the past 26 years, leveraging our experience and relationships to buy the most exceptional Class A assets across the country,” said Braden Barr, Senior Investment Officer at Olympus Property. 

Developed in 2014 by Alliance Residential, Olympus Sierra Pines is located in the renowned Woodlands master-plotted community, which is one of the most hard areas to build multifamily in the entire Houston MSA. The Woodlands offers exceptional schools, employment opportunities, and the best in upscale entertainment. 

“Olympus Property consistently targets assets with definitive upside that are located in thriving submarkets across the nation. Sierra Pines checks all these boxes and is an exceptional long term addition to our portfolio,” said Anthony Wonderly, Principal of Olympus Property. 

Olympus Sierra Pines’ premier amenities include a centrally located 4 tale garage providing direct access to interior corridors, a resort-style pool with entertainment seating, clubroom with billiards and poker table, and a state-of-the-art fitness center with yoga space. Unit features incorporate granite countertops, stainless steel appliances, solid bamboo flooring, and tile backsplashes.

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