CAPRE’s Commercial Real Estate Headlines for January 2, 2020

Check out the latest deals and developments in commercial real estate for January 2, 2020: Kennedy Wilson Raises $775 Million for Sixth U.S. Real Estate Fund: Kennedy Wilson (NYSE:KW) announced today that it has exceeded its target, securing $775 million of capital commitments and closed fundraising for Kennedy Wilson Real Estate Fund VI (“Fund VI”), a private equity fund focused on value-add real estate investments across the Western U.S. with purchasing power of approximately $2 billion in commercial assets. The fund is the largest private placement in the company’s 31-year history and is 55% larger than its predecessor fund, which closed in 2016. The Kennedy Wilson team secured capital commitments from a diverse, global institutional investor base, including private wealth management offices, public and corporate pension funds, and family offices. Kennedy Wilson committed $82 million to the fund. Skanska invests $221 Million in Multi-Family Development Project in Tysons, VA: Skanska is investing $221 Million USD in The Heming, a new multi-family development in Tysons, VA. The construction contract is worth about $150 million which will be included in the US order bookings for the fourth quarter 2019. Skanska USA will develop and build The Heming, 28-story, 410-unit luxury apartment building. The development includes 3,500 square meters of ground-floor restaurant and retail space and is targeting LEED Gold certification. The Heming is a part of Scott’s Run, an about 600,000 square meter mixed-use development and will be located across the street…