Summary:
- Toll Brothers sold a 752-bed off-campus student housing project, Kinetic, near Georgia Tech to Kennedy Wilson for approximately $132 million; the development completed construction last year and began tenant move-ins for the fall semester.
- The 239-unit tower offers diverse floor plans from one- to five-bedroom layouts and includes amenities such as a sky lounge, fitness center with sauna, and an e-sport gaming lounge, targeting student residents.
- This transaction is part of a broader acquisition where Kennedy Wilson agreed to purchase Toll Brothers’ multifamily platform, Toll Brothers Apartment Living, transferring over $5 billion in multifamily assets to Kennedy Wilson.
Original article:
