Kennedy Wilson Acquires The Danforth for $173M in Seattle
Deal News | Jun 13, 2025 | Kennedy-Wilson Holdings Inc
Kennedy-Wilson Holdings Inc. has teamed up with Japanese investors, Hulic Co., Ltd. and Kenedix, Inc., to acquire The Danforth, a multifamily property in Seattle, for $173 million. This strategic acquisition aligns with Hulic and Kenedix's focus on international locations with robust population and economic growth. Kennedy-Wilson's Chairman and CEO, William McMorrow, highlighted the property's significant value due to limited new construction and strong tenant absorption in the area, driven by the return-to-office trend in the region. The Danforth, equipped with 265 residential units and luxurious amenities, supports Kennedy-Wilson's growing Pacific Northwest portfolio of over 13,000 apartments. While it is unclear if the trio will collaborate on future ventures, Kennedy-Wilson has a 10% stake in a profitable joint venture and will serve as asset manager, earning customary fees.
Sectors
- Real Estate
- Investment Management
Geography
- United States – The Danforth property is located in Seattle, highlighting the U.S. as a primary geographic focus for this transaction.
- Japan – The collaboration involves Japanese companies, Hulic Co., Ltd. and Kenedix, Inc., making Japan a significant geography in the investors' strategy.
Industry
- Real Estate – The article focuses on the acquisition of a multifamily property in Seattle, indicating this transaction belongs to the real estate sector.
- Investment Management – Kennedy-Wilson Holdings Inc. is involved in the investment management industry as it enhances its multifamily portfolio with strategic acquisitions.
Financials
- $173 million – The acquisition price for The Danforth multifamily property in Seattle.
- 10 percent interest in $6.6 million investment – Kennedy-Wilson's ownership in the joint venture related to the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kennedy-Wilson Holdings Inc. | Bidding Company | Company | A Beverly Hills-based real estate investment company leading the acquisition of The Danforth. |
| Hulic Co., Ltd. | Bidding Company | Company | A Japanese real estate company partnering in the acquisition. |
| Kenedix, Inc. | Bidding Company | Company | Another Japanese real estate company involved in the transaction. |
| The Danforth | Target Company | Company | A multifamily property located in Seattle consisting of 265 residential units. |
| William McMorrow | Chairman and CEO of Kennedy-Wilson Holdings Inc. | Person | Leader at Kennedy-Wilson Holdings who provided statements on the acquisition. |