Kennedy Wilson (KW) Acquires Anaheim's Stadium Gateway in $56M Deal
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Price: $17.66 +0.97%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 1.8%
Revenue Growth %: -29.9%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 1.8%
Revenue Growth %: -29.9%
Trade KW Now!
Kennedy Wilson (NYSE: KW) and its partners completed the acquisition of Stadium Gateway in Anaheim, CA for $56 million. The six-story, 272,826 RSF, Class A office building located at 1900 State College Boulevard increases Kennedy Wilson’s total office portfolio to 3.6 million square feet.
“Stadium Gateway is widely considered the best office building in the Central Orange County submarket,” commented John Prabhu, president of KW Commercial Investment Group. “With the building’s occupancy currently at 70%, we believe this investment is an excellent value-add opportunity. Orange County has had eight consecutive quarters of positive absorption including over 1.9 million square feet of absorption in 2011. We are strongly optimistic that this encouraging momentum and steady recovery, in concert with Stadium Gateway’s intrinsic benefits and desirable characteristics, will combine nicely in our efforts to stabilize the asset.”
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“Stadium Gateway is widely considered the best office building in the Central Orange County submarket,” commented John Prabhu, president of KW Commercial Investment Group. “With the building’s occupancy currently at 70%, we believe this investment is an excellent value-add opportunity. Orange County has had eight consecutive quarters of positive absorption including over 1.9 million square feet of absorption in 2011. We are strongly optimistic that this encouraging momentum and steady recovery, in concert with Stadium Gateway’s intrinsic benefits and desirable characteristics, will combine nicely in our efforts to stabilize the asset.”
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