Kennedy Wilson, a global leader in real estate investment and a prominent lender in multifamily and student housing sectors, has successfully closed a $175 million senior construction loan for the Artwalk Towers, a new 595-unit multifamily community in Jersey City, New Jersey.
“We are excited to close on our first loan with the Kushner Real Estate Group, which has a proven track record of delivering top-tier projects that meet the needs of the area’s residents,” said Thomas Whitesell, Head of Kennedy Wilson’s Debt Investment Group.
This loan marks another milestone in an active year for Kennedy Wilson’s debt investment platform, coming shortly after the one-year anniversary of its acquisition of a $4.1 billion construction loan portfolio in Summer 2024. Since then, Kennedy Wilson has originated $2.4 billion in multifamily and student housing construction loans, totaling 8,900 units with institutional sponsors nationwide. The company continues to maintain a robust pipeline of multifamily and student housing projects.
Artwalk Towers, situated in Jersey City’s Journal Square, is set to be a 49-story residential tower featuring an array of premium amenities: a direct PATH station connection to Manhattan, a resort-style pool, BBQ area, modern gym, co-working spaces, and a sky lounge overlooking New York City. Sponsored by the Kushner Real Estate Group, a leading developer in the area, the project is expected to complete in Q4 2027, further enhancing the growing Journal Square district.
“Our Artwalk Towers loan aligns with Kennedy Wilson’s mission to support transformative urban developments,” added Whitesell. “This closing is a fitting celebration of our debt group’s one-year anniversary, during which we’ve originated over $2.4 billion in impactful multifamily and student housing loans nationwide.”
Kennedy Wilson has an average ownership stake of 2.5% across the loans closed since Summer 2024 and receives management fees as asset manager.
About Kennedy Wilson
Kennedy Wilson (NYSE: KW) is a premier real estate investment company, managing over $28 billion in assets across high-growth markets in the United States, the UK, and Ireland. With a relationship-driven approach, Kennedy Wilson excels in identifying and enhancing value across market cycles, with over $50 billion in transactions since going public in 2009. The company owns, operates, and develops real estate within its high-quality portfolio and through its investment management platform, focusing on opportunistic equity and debt investments alongside its partners.
Special Note Regarding Forward-Looking Statements
Certain statements in this release are “forward-looking statements” as defined by U.S. federal securities laws, reflecting Kennedy Wilson’s management’s current expectations, assumptions, and forecasts, which may differ materially due to risks and uncertainties. These statements are not guarantees of future performance. Kennedy Wilson assumes no duty to update forward-looking statements except as required by law.
