Kennedy Wilson Acquires Carraway Four Hundred Twenty One Unit Class A Multifamily in West Harrison Expanding East Coast Investment Platform With Kenedix and Hulic for Two Hundred Thirty Seven Million

Kennedy Wilson has acquired Carraway, a 421-unit, Class A multifamily community in West Harrison, New York, in a joint transaction with Kenedix, Inc. and Hulic Co., Ltd. The purchase price was $237 million and marks an expansion of Kennedy Wilson’s investment management platform on the East Coast while deepening an existing relationship with its long-standing Japanese partners.

Completed in 2021, Carraway sits approximately 25 miles north of Manhattan in Westchester County and includes a mix of studio, one-bedroom and two-bedroom residences, structured parking and roughly 6,400 square feet of ground-floor retail. The property offers amenity-driven living with a resort-style pool, fitness center, coworking space and on-site retail that have supported resident demand and retention since delivery.

Carraway represents a rare opportunity to acquire a high-quality, recently constructed multifamily community in one of the most desirable suburban markets in the New York metropolitan area. The acquisition extends Kennedy Wilson s investment platform across the East Coast and expands our investment management platform alongside our valued partners Kenedix and Hulic, said William McMorrow, Chairman and CEO of Kennedy Wilson.

The asset benefits from Westchester County’s household incomes that exceed $175,000 on average and proximity to White Plains and major employers including IBM, PepsiCo, Mastercard, Morgan Stanley and Regeneron. Leasing momentum at the property has been positive, with rents up more than 5 percent year over year while maintaining relative affordability versus New York City alternatives.

"We are pleased to have our fourth JV investment with Kennedy Wilson and Kenedix. We are currently increasing international investment with trusted partners in areas where continued population and economic growth are expected. We believe this investment satisfies our criteria, said Sohei Okuno, Managing Officer, General Manager of Global Investment Department at Hulic Co., Ltd."

"We are pleased to expand our partnership with Kennedy Wilson and Hulic through the acquisition of Carraway, a high-quality multifamily asset in the New York metropolitan area. This investment reflects our continued focus on institutional-grade residential properties in supply-constrained, high-demand markets where we see strong long-term fundamentals supported by durable population trends and proximity to key employment centers, said Hikaru Teramoto, Representative Director, President & COO at Kenedix, Inc."

This transaction underscores continued institutional interest in recently developed suburban multifamily product in the New York metro area. For operators and investors, Carraway illustrates the intersection of amenity-rich design, transit-proximate suburban locations and tenant demand that supports steady leasing performance.