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Kennedy Wilson Secures $175 Million Construction Loan for Artwalk Towers in Jersey City, NJ

Nov 12, 2024over 1 year ago

Contract Type

contract

Beverly HillsOtherReal EstateReal Estate InvestmentCommercial Real Estate

Description

Kennedy Wilson has closed a $175 million senior construction loan for the development of Artwalk Towers, a 595-unit multifamily community in Jersey City, New Jersey. The project's sponsor is Kushner Real Estate Group, and Artwalk Towers is expected to be completed in Q4 2027.

Company Information

Company

Kennedy Wilson

Location

Beverly Hills, California, United States

About

Kennedy Wilson (NYSE:KW) is a leading global real estate investment company. We own, operate, and invest in real estate through our balance sheet and through our investment management platform. We focus on multifamily and office properties located in the Western U.S., U.K., and Ireland. For further information on Kennedy Wilson, please visit: www.kennedywilson.com. KW-IR Special Note Regarding Forward-Looking Statements Statements in this press release that are not historical facts are “forward-looking statements” within the meaning of U.S. federal securities laws. These forward-looking statements are estimates that reflect our management’s current expectations, are based on assumptions that may prove to be inaccurate and involve known and unknown risks. Accordingly, our actual results or performance may differ materially and adversely from the results or performance expressed or implied by these forward-looking statements, including for reasons that are beyond our control. For example, we may not be able to maintain our current acquisition or disposition pace or identify future properties to acquire on terms we consider attractive, and our current property portfolio may not perform as expected. Accordingly, you should not unduly rely on these statements, which speak only as of the date of this press release. We assume no duty to update the forward-looking statements, except as may be required by law.

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