The LA-based firm and its equity partners just scooped up Slate Creek at Johnson Ranch, a 612-unit apartment community in Roseville. The company and its equity partners invested an aggregate of $38.5M of equity (inclusive of closing costs) in the $100M buy. Kennedy Wilson Multifamily Investments president Kurt Zech says strong area incomes and the ability to execute a robust value-add plan on a low density property made the complex attractive. "The property is situated on a 39-acre site, which is nearly impossible to replicate in that submarket," he says. Roseville has a median area home price of $715k.
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