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Kennedy Wilson Buys Victory Plaza in North Hollywood

Beverly Hills-based real estate firm Kennedy Wilson announced last week it had acquired a 132,995-square-foot retail center near the intersection of Victory Boulevard and Coldwater Avenue in North Hollywood.

The $30 million purchase from an Irish financial institution also included an adjacent 2.4-acre site zoned for multifamily.

Vallarta Supermarkets is the anchor business of the shopping center, which is viewed as under utilized by Kennedy Wilson Executive Vice President Matt Windisch.

"There is a significant value add opportunity for the retail center which has been in receivership for several years and has several major leases significantly below market," he said. "In addition, the adjacent multifamily site fits in well with our strategy of capturing value from excess land that sits next to our existing income generating assets.”

Victory Plaza is the 10th US property to be bought by Kennedy Wilson. In 2012, the firm bought the Academy Tower building at 5200 Lankershim Blvd. for $48 million.

Click here to read more about the sale.
Do not take a Lane out on Lankershim for bikes January 27, 2014 at 09:43 PM
Who is thsi guy can we turn it in to like Lankershim the bussiness and not Valteria.
Matt January 30, 2014 at 02:00 PM
What's a Valteria?
Do not take a Lane out on Lankershim for bikes January 30, 2014 at 03:26 PM
Good news there will not be a Valteria open up there . They have Supior right down street.

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