Kennedy-Wilson Holdings, Inc.
), along with one of its partners, bought a four-story Class A
office building and seven-story parking structure - 5161
Lankershim Boulevard - in North Hollywood for $45 million. This
move demonstrates the company's efforts to expand its footprint
5161 Lankershim Boulevard office building, spanning 188,366
square feet of rentable space, is positioned at the center of the
North Hollywood submarket. The property, which was financed with
$7.9 million of equity and $30 million in debt, is considered one
of Tri Cities' premier creative use office buildings of the
Kennedy-Wilson plans to refurbish the common areas of the
property to enhance its value. Moreover, to increase tenant base
at 5161 Lankershim Boulevard, the company aims to undertake
marketing initiatives to attract tenants from the technology,
media and entertainment sectors.
We view this acquisition as a strategic fit, given the
flourishing technology, media and entertainment sectors of North
Hollywood submarket. Consequently, Kennedy-Wilson will gain from
the rising tenant demand in the region, which will boost its
Kennedy-Wilson offers a wide array of real estate services
including auction, conventional sales, property services as well
as research and investment management. Since the beginning of
2013, Kennedy-Wilson, along with its institutional partners,
acquired approximately $2.1 billion worth of real estate and real
estate related debt globally.
Kennedy-Wilson currently carries a Zacks Rank #3 (Hold). Among
better-performing companies, are
E-House (China) Holdings Limited
CBRE Group Inc.
). While FirstService and E-House carry a Zacks Rank #1 (Strong
Buy), CBRE Group has a Zacks Rank #2 (Buy).
CBRE GROUP INC (CBG): Free Stock Analysis
E-HOUSE CHINA (EJ): Free Stock Analysis
FIRSTSERVICE CP (FSRV): Free Stock Analysis
KENNEDY-WILSON (KW): Free Stock Analysis
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