Kennedy Wilson buys Bellevue office campus for $153M

|By:, SA News Editor

90 East is a 573K square foot office campus made up of three class-A buildings. Kennedy Wilson (NYSE:KW) purchased for $153M in an off-market deal.

The company's equity investment was $76M, and it took out a loan for $77M - 10-year interest only at 3.85%.

The campus is 100% leased to Microsoft and Costco, with a weighted-average lease term of 5.3 years. LTM NOI was about $13M.

KW now has an ownership interest in 1.4M square feet of office space and 10,430 apartment units in Washington.

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