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Kennedy Wilson Unit Buys 5 Tokyo Buildings

April 10, 2001|From a Times Staff Writer

Beverly Hills-based Kennedy Wilson Inc. said a subsidiary has purchased five Tokyo office buildings for about $94 million in cash.

The buildings, purchased from different owners by Kennedy-Wilson Japan, total 200,000 square feet. All five are leased to a variety of commercial tenants and are located near subway and train stations, said Richard Mandel, president of the firm's commercial real estate group.

The firm anticipates purchasing six more buildings by next month as part of a plan to create a $500-million Japanese real estate portfolio. Kennedy-Wilson Japan will have acquired about $400 million in property by the end of April.

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