California Real Estate Firm Buying Boise Land And Upping Rent
A southern California real estate company has been purchasing property in the Boise area, performing remodeling, and raising the cost of rent.
Kennedy Wilson, a Beverly Hills-based firm, recently purchased a 188-unit apartment building for $24 million, according to a recent press release from the company. The Cottonwood Apartments are located along the Boise River, at 1671 South Riverstone Lane.
Kennedy Wilson will invest an additional $6 million in the coming months to upgrade the interior of the rentals and make improvements to the property's clubhouse, gym and pool. They also have future plans of purchasing more property along the river in Boise, as well as targeting high-income land in Eagle, Idaho.