Kennedy Wilson, a U.S. real estate investment company, has closed on the purchase of six-building research and development/office portfolio in South San Jose, California (Calif).
The portfolio, totaling 257,000 square feet, consists of five single-story research and development buildings and a two-story office building.
Kennedy Wilson bought the assets for its private equity fund, Kennedy Wilson Fund VI, for a total purchase price of $53.5 million from an undisclosed seller.
The acquisition of the portfolio, which is currently 100 percent occupied by 15 tenants, expands Kennedy Wilson’s presence in Silicon Valley and its growing portfolio of flex office assets across a global footprint.