Insights > Deals
Kennedy Wilson venture buys 312 San Jose rental homes for US$176 million
14 October 2026 | Asset acquisition | US | 312 units | Operational
Hulic and Fuyo General Lease join Kennedy Wilson in the acquisition of One South Market.
Key details
Asset type | Operational |
Location | San Jose, US |
Capacity | 312 units |
Buyer 1 | Kennedy Wilson |
Buyer 2 | Hulic Co., Ltd. |
Buyer 3 | Fuyo General Lease (USA) Inc. |
Seller | Lakevision Capital |
Advisor | CBRE |
Value | $176 million |
Source: Kennedy Wilson
The joint venture has completed the acquisition of the high‑rise residential property built in 2015 in downtown San Jose, adjacent to San Pedro Square. The property includes 312 rental apartments and ground‑floor retail space. It is Kennedy Wilson’s fifth joint venture with Hulic and its first partnership with Fuyo. CBRE represented the buyer.
Strategic context
The transaction brings together an established US multifamily manager with two Japanese capital partners to acquire an existing rental property.
Proximity to downtown employers and transport connections provides access to an employment‑driven rental market, but also exposes the investment to Silicon Valley’s hiring cycle. Acquiring a completed property eliminates construction and development delivery risks and allows the investment strategy to focus on occupancy, rents and operating costs.
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