Residential

Kennedy's residential portfolio is valued at over $1.4 billion and includes 8,900 units in garden apartments, mid-rise and high-rise apartment buildings, located in strong multi-family markets such as Seattle, New York, and Chicago. In addition to developing and managing traditional multi-family apartment properties, the portfolio includes higher-and-better use land investments where single-family development and infrastructure permits are granted on un-entitled vacant land parcels surrounding burgeoning urban markets. Once entitled, Kennedy's clients have the option to develop housing units under Kennedy's guidance or sell the entitled land to single-family home developers.

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Octagon Park Apartments - New York, New York (case study)

The Opportunity

Octagon Park is a 13-story, high-rise apartment building

LEED Silver Certification

Green Apple Award

Largest NY residential solar array

Historic preservation

Open green space and trails

A top ten MEPT performing asset

	The Investment
	Acquisition Closed:	November 2004
	Acquisition Price:	N/A – Ground Lease
	Market Value*:	$240.8 million
	Cost*:	$145.5 million
	Current Yield*:	8.7%
	*as of 3/31/09