Kennedy Wilson announced the acquisition of Capitol Towers, a 409-unit apartment community in Sacramento, CA. The company and its partners purchased the property for $64M, with $50M in financing from HFF/Freddie Mac at 3.51%, fixed for seven years. Kennedy Wilson will invest 50% of the equity in the deal. The acquisition increases the company’s multifamily portfolio to ownership interests in 13,876 units, including deals currently under contract.
The Federal Reserve will keep its version of the monetary printing press running a while longer, though Chairman …