Kennedy Wilson with Kenedix and Hulic Acquire Carraway in West Harrison New York Expanding East Coast Multifamily Platform

Kennedy Wilson, together with long-standing Japanese partners Kenedix, Inc. and Hulic Co., Ltd., has acquired Carraway, a 421‑unit multifamily community in West Harrison, New York, for $237 million. The transaction expands Kennedy Wilson’s investment management platform and extends its presence on the East Coast.

Completed in 2021, the Class A property sits in Westchester County, roughly 25 miles north of Manhattan. Carraway includes a mix of studio, one-bedroom and two-bedroom residences, structured parking and approximately 6,400 square feet of ground-floor retail. The community offers a range of resident amenities, including a resort-style pool, fitness center, coworking space and on-site retail, which the sponsors say have supported resident demand and retention.

The property benefits from its location in one of the nation’s most affluent counties, where average household incomes exceed $175,000, and proximity to White Plains and major regional employers such as IBM, PepsiCo, Mastercard, Morgan Stanley and Regeneron. The asset has shown leasing momentum, with rents increasing more than 5 percent over the last year while remaining relatively affordable compared to New York City alternatives.

Carraway represents a rare opportunity to acquire a high-quality, recently constructed multifamily community in one of the most desirable suburban markets in the New York metropolitan area. The acquisition extends Kennedy Wilson s investment platform across the East Coast and expands our investment management platform alongside our valued partners Kenedix and Hulic, said William McMorrow, Chairman and CEO of Kennedy Wilson.

We are pleased to have our fourth JV investment with Kennedy Wilson and Kenedix. We are currently increasing international investment with trusted partners in areas where continued population and economic growth are expected. We believe this investment satisfies our criteria, said Sohei Okuno, Managing Officer, General Manager of Global Investment Department at Hulic Co., Ltd.

We are pleased to expand our partnership with Kennedy Wilson and Hulic through the acquisition of Carraway, a high-quality multifamily asset in the New York metropolitan area. This investment reflects our continued focus on institutional-grade residential properties in supply-constrained, high-demand markets where we see strong long-term fundamentals supported by durable population trends and proximity to key employment centers, said Hikaru Teramoto, Representative Director, President & COO at Kenedix, Inc.

For operators and investors tracking institutional capital flows into suburban, transit‑adjacent markets, this transaction underscores continued interest in modern, amenitized multifamily stock that can deliver occupancy and rent growth in high-income, employment‑dense regions. Multifamily Leadership will continue to monitor how partnerships like this shape investment strategies and asset management practices across the sector.