Kennedy Wilson Earns Mid 5 Cap on First Apartment Deal in Auburn

By Jon Peterson Beverly Hills, Calif.-based Kennedy Wilson has acquired the Belara at Lakeland apartment complex in Auburn for $81 million, or just over $188,000 per unit, at a 5.5 to 5.6 percent cap rate. “This return factors in the trailing 12 months of income that the property is producing. We feel good that this […]