In 2012, Kennedy Wilson acquired Harrington Square for $41 million in an off-market transaction
Harrington Square Story
Built in 2011, the property is located in north Renton, Washington, appealing to professionals in Bellevue, Kent Valley and downtown Seattle. It offers convenient access to the I-90 corridor, which is home to companies such as Microsoft, Costco World Headquarters, Siemens and Farmers Regional Headquarters.
The company purchased the property for $41 million, investing $15 million of equity in the transaction with Fannie Mae providing $26 million of financing at 3.35%, fixed for ten years. Since acquisition, Kennedy Wilson's value-add asset management program included the completion of an upgraded leasing center, a new fitness center, and other property enhancements.
