In November 2018, Kennedy Wilson acquired Reedhouse (formerly Cottonwoods Apartments) in an off-market transaction in Boise, Idaho.
Reedhouse is a 118-unit apartment community located in Southeast Boise between a private lake and the Boise River, providing most of the units with waterfront views. Boise State University and Downtown are just minutes from the property, and residents have direct access to public transportation, lush parks and walking paths, including the 25-mile Boise River Greenbelt that follows the river through the heart of the city.
Kennedy Wilson acquired Reedhouse in November 2018 for $24 million, and nine months later unveiled a major rebranding and repositioning of the apartment community that included a top-to-bottom makeover of the clubhouse, leasing center, fitness center and pool deck, as well as the creation of a new outdoor BBQ and kitchen amenity that helps better connect residents with the outdoors. As part of the overall value-add program, the team is also updating unit interiors, exterior lighting and landscaping, while improving energy and water efficiency throughout the site.