[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

SCVNews.com | Townhomes at Lost Canyon Sell for $61 Mil. | 08-30-2016
Inside
Weather
Santa Clarita CA
Cloudy
Cloudy
58°F
 
Calendar
Today in
S.C.V. History
May 29
1987 - Director John Landis acquitted of charges in deaths of Vic Morrow and two child actors on Valencia set of "Twilight Zone: The Movie" [story]


Lost_Canyons_Large[KW] – Global real estate investment company Kennedy Wilson announced Tuesday that the company acquired The Townhomes at Lost Canyon, a 157-unit multifamily community in Canyon Country, for $61 million. The company invested $19 million of equity (inclusive of closing costs) and secured a 10-year fixed rate loan of $43 million through Fannie Mae at 3.63% to acquire this wholly-owned property.

“We are excited to expand our presence in the greater Los Angeles area with another high quality asset,” said Nicholas Bridges, Managing Director of Kennedy Wilson Multifamily Investments. “We believe this community will attract those who want access to LA’s jobs and amenities but who also desire an outstanding public school system and a high quality of life.”

The Townhomes at Lost Canyon is a class-A apartment community located in Santa Clarita, CA. Situated on 12.5 acres, the property was built in 2013 and is entirely comprised of 3 bed, 2.5 bath townhomes featuring high-end condominium-level specs and all with two-car, direct access garages. Best-in-class amenities at the property include a swimming pool and spa, fully equipped fitness center, enclosed dog park, and a kid’s playground. The Santa Clarita Valley is a thriving center for high-paying industry clusters such as advanced manufacturing, medical devices, aerospace and defense, information technology, and digital media and entertainment.

Kennedy Wilson’s global apartment portfolio includes 133 communities with approximately 26,000 units, including 25 communities and 8,808 units in which the company has an approximate 99% ownership interest.

 

About Kennedy Wilson

Kennedy Wilson is a global real estate investment company. We own, operate, and invest in real estate both on our own and through our investment management platform. We focus on multifamily and commercial properties located in the Western U.S., UK, Ireland, Spain, Italy and Japan. To complement our investment business, the Company also provides real estate services primarily to financial services clients. For further information on Kennedy Wilson, please visit www.kennedywilson.com.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

26 Comments

  1. Where would you want to buy a town home or with that amount of money you can buy a mansion with swimming pool jacuzzi and theater and you know the works that is so stupid

  2. Melanie silver says:

    The rent for these unit are outrageous also. A 3 bedroom starts at 2993 to 3500.00

  3. That is utterly ridiculous

  4. Kathy Tapia Kathy Tapia says:

    Simone Markenson these are the ones..

  5. Raise the rents and kick the widows out!

  6. I wonder how much the rent will be!? Is sad that to afford this type of townhouse you have to work all day everyday

  7. What a joke !!! And this is why im leaving CA

  8. Bob Dixon Bob Dixon says:

    These lots have not been built, it’s all properties in the new project on lost cyn..l planned community,high rise buildings,mall,shopping,park, train station,water filtration unit…..

  9. cc says:

    The fire insurance annually is insane…some of those homes dip into the flood channel…renting or owning…doesn’t matter add in the property tax, of which they have been getting around prop 13 and even rich people…it’s insane and don’t forget the heat, waterbill, trash bill and you still want to eat…most insurance companies as of June 13th 2016 are dropping ho rowers or adding $5000 riders on their anniversary due date and Brown introduces 10 new property taxes..rent or own it trickles down to you…if they give 10% to sro…tax payers pay the real estate management company…California votes this crap in and companies take advantage of the stupidity…more school taxes are coming every few months more school taxes..what a scam

  10. Tessa Lucero says:

    That works out to $388,535 per unit. With a 10 year loan, that means that each townhome needs to bring in that much in rent over the 10 year period. So just under $39,000 per year even without doing any time value of money calculations. Plus costs of operating the complex: utilities that the tenants don’t pay, security, maintenance, landscaping, management. Plus perhaps they might want to make a bit of profit. At this point we’re probably up to $48,000 a year, round numbers, so $4000 a month in rent. That’s assuming a close to 100% occupancy rate.

    For a 3 bedroom unit, that’s $1333 per month rent per person, before utilities. Rent. No tax break as there is for a mortgage. No equity.

    And we wonder why there are so many homeless people in Santa Clarita? It’s not a matter of not wanting to work or be housed, it’s a matter of being priced out of the market. Are our kids ever going to be able to move out and find a place to live in the town they grew up in? Or even in the STATE they grew up in?

  11. $388,000 per unit seems to be a great deal considering average town home price in santa clarita. Granted there’s over head costs for maintance and upkeep on a daily basis. But overall a good deal

  12. Joann Garcia Joann Garcia says:

    The rent on these units r crazy a 3 bedroom starts 2997 to 3500.00. Ridiculous!!

Leave a Comment


LOCAL BUSINESS LINKS
LOCAL BUSINESS HEADLINES
FINANCIALS OF LOCAL INTEREST
MARKETS & METALS
NASDAQ6210.19  chart +0.08%
S&P 5002415.82  chart +0.03%
STOCKS OF LOCAL INTEREST
Bank Santa Clarita15.60  chart +2.23%
Biosolar, Inc.0.042  chart +13.51%
Sierra Bancorp25.17  chart -0.36%
Cu Bancorp (ca)36.20  chart -0.69%
Enable Ipc Corp0.0007  chart -12.50%
Flex Ltd. - Ordinary Shares16.96  chart -0.99%
Linn Energy Llc Unit Repstg Ltd0.096  chart +0.00%
Linn Co Llc Com Shs Repstg Ltd 0.0431  chart +0.00%
Mannkind Corporation1.52  chart +7.04%
Mission Vly Bcp Ca12.75  chart +0.00%
Quest Diagnostics Incorporated107.98  chart -0.15%
Tejon Ranch Co20.58  chart +1.43%
Us Energy Initiative0.0006  chart +20.00%
Wesco Aircraft Holdings, Inc.9.45  chart +2.16%

Apple Inc.153.61  chart -0.17%
At&t Inc.38.12  chart -0.29%
Autonation, Inc.39.27  chart +0.95%
Best Buy Co., Inc.58.97  chart -3.72%
Big Lots, Inc.49.79  chart +2.94%
Barnes & Noble, Inc.6.80  chart -0.73%
Brady Corporation37.25  chart +2.62%
Boston Scientific Corporation27.32  chart +0.22%
N/a24  chart +0.00%
Cbre Group Inc Class A34.39  chart -0.03%
Carnival Corporation63.36  chart +0.94%
Comcast Corporation40.91  chart +1.41%
Costco Wholesale Corporation177.86  chart +1.79%
Curtiss-wright Corporation89.33  chart +0.07%
Cvs Health Corporation76.64  chart +0.91%
Cemex, S.a.b. De C.v. Sponsored8.38  chart +0.24%
D.r. Horton, Inc.33.11  chart -0.33%
Walt Disney Company (the)108.41  chart +1.06%
Edison International79.96  chart +0.01%
Hyatt Hotels Corporation Class 57.52  chart -0.05%
Home Depot, Inc. (the)154.90  chart -1.00%
Kb Home21.32  chart +0.09%
Kroger Company (the)29.45  chart +0.72%
Lennar Corporation Class A51.53  chart -0.39%
Laboratory Corporation Of Ameri140.10  chart -1.20%
Linn Energy Llc Unit Repstg Ltd0.096  chart +0.00%
Linn Co Llc Com Shs Repstg Ltd 0.0431  chart +0.00%
Lowe's Companies, Inc.80.91  chart -0.52%
Marriott International106.90  chart +0.35%
Mcdonald's Corporation149.86  chart +0.05%
Mitsubishi Ufj Financial Group,6.24  chart -0.48%
Netflix, Inc.162.43  chart -0.38%
Office Depot, Inc.5.04  chart +0.00%
Rite Aid Corporation3.67  chart -0.81%
Rexford Industrial Realty, Inc.27.35  chart +0.00%
Regal Entertainment Group Class20.62  chart +2.38%
Ross Stores, Inc.63.52  chart +0.83%
Republic Services, Inc.63.07  chart +0.37%
N/aN/A  chartN/A
Starbucks Corporation63.30  chart +0.64%
Smart & Final Stores, Inc.13.05  chart -0.76%
Sears Holdings Corporation7.78  chart -8.25%
Six Flags Entertainment Corpora60.85  chart -0.29%
Sonova N159.90  chart +0.00%
Staples, Inc.8.98  chart -0.88%
Sunpower Corporation7.95  chart -3.40%
Target Corporation54.40  chart +0.37%
Time Warner Cable Inc209.56  chart -0.21%
Ulta Beauty, Inc.302.40  chart +3.19%
Walgreens Boots Alliance, Inc.81.25  chart +0.62%
Waste Connections, Inc.94.39  chart +0.63%
Whole Foods Market, Inc.35.12  chart -0.57%
Waste Management, Inc.71.84  chart +0.38%
Wal-mart Stores, Inc.78.13  chart -0.23%
Woodward, Inc.68.29  chart -0.47%
CURRENCY CONVERTER

Latest Additions to SCVNews.com
Saugus High School graduating seniors James Klipfel and Diego Rumer received the first two Rod Bennett Memorial Scholarship Trust Fund awards at the school's 2017 senior honors ceremony on Tuesday night, May 16.
Saugus High Seniors Win First Rod Bennett Scholarships
1987 - Director John Landis acquitted of charges in deaths of Vic Morrow and two child actors on Valencia set of "Twilight Zone: The Movie" [story]
1888 - Olympian Jim Thorpe, "America's greatest athlete," born in Indian Territory (probably near Prague, Okla.); later in life, appeared in many B-Westerns shot in Placerita Canyon [story]
1971 - Community preview night (pre-grand opening), Magic Mountain [story]
West Ranch High School dedicated their new Wall of Honor on Friday, which was produced by four West Ranch High School ASB students.
West Ranch High School Unveils Wall of Honor
Tonight on SCV NewsBreak, the SCV Senior Center honored those who gave their life in service. Plus, SCVi students are building a "tiny house" for a homeless veteran. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Friday, May 26, 2017
Fourth and fifth graders at Santa Clarita Valley International School are asking for the community’s assistance over Memorial Day weekend with fundraising for a “tiny house” they are building for a homeless veteran.
SCVi Students Raising Funds for Tiny House for Homeless Vet
Plambeck's objective, plain and simple, has always been about stopping development by any means possible. Her strategy involves multiple delay tactics, the worst being groundless litigation.
Chicken Little, Part 2 | Commentary by Dan Masnada
The city of Santa Clarita’s Thursdays@Newhall series, presented by Galpin Subaru, roars into June with a unique lineup of events including a classic Volkswagen car show, James Bond-themed SENSES Block Party and monthly variety show. Old Town Newhall is the hot spot on Thursday nights so grab your friends and family and come down for some fun.
Thursdays@Newhall June Lineup: Classic Volkswagen, James Bond, more
A feeling of delightful gratification for a mentor typically comes about when seeing a mentee develop and realize success. Their reward is in victories the students achieve, which are often seen as a measure of the instructor’s own success, positive influence and guidance. Such is the story of Dr. Luis S. Garcia and the Education Based Incarceration program.
Inmate Earns Doctoral Degree While in L.A. County Jail System
On Tuesday, April 25, 2017, Santa Clarita Valley Committee on Aging leadership convened at the future location of the new Santa Clarita Valley Senior Center and announced that only $2.3 million additional fundraising dollars needed to be raised before construction could begin on the Center.
New SCV Senior Center Waits on $2.3 Mil.
Peter Lambert tossed eight strong innings, but the San Jose Giants came from behind to knock off the JetHawks, 4-2, in the rubber game of the series on Thursday night at The Hangar.
San Jose Giants Beat JetHawks 4-2 Thursday
Ninety percent of people who suffer out-of-hospital cardiac arrests die. It takes 10 minutes or less to learn how to keep a cardiac arrest victim alive until paramedics arrive. The County of Los Angeles Emergency Medical Services Agency, the Los Angeles County Fire Department, and the American Heart Association are once again coordinating free hands-only CPR training on Sidewalk CPR Day, June 1, at over 50 sites across Los Angeles County to help improve cardiac survivability.
June 1: L.A. County Coordinates Sidewalk CPR Day
When Jeanny Olivares, 22, crosses the stage on Friday, June 2, for College of the Canyons’ Commencement, she will be receiving two associate degrees in marketing and accounting, which she earned in a year-and-a-half’s time.
COC Grad Earns Two Degrees While Facing Adversity
1907 - John Wayne born in Iowa; got start in movies filmed in Placerita Canyon [watch one]
The CLWA-NCWD merger is not a takeover, as Plambeck repeatedly insists. It is the product of months of discussion between two willing parties, which could be terminated at any time by either party or both parties.
Chicken Little, Part 1 | Commentary by Dan Masnada
Tonight on SCV NewsBreak, deputies and volunteers trained for an active shooter situation at The Masters University Thursday morning. Plus, a girl is fighting for her life, leaving her family asking the community for blood donations to help her survive. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Thursday, May 25, 2017
Dr. Steven J. Golightly, Director of the Los Angeles County Child Support Services Department (CSSD), was recognized on May 22 for his Department’s innovative efforts to improve child support services for L.A. County residents and his zeal for developing future leaders for government service to the public.
County Child Support Services Director Receives Excellence in Government Award
Motown in Town is back on Sunday, June 25 from 5:00 to 10:30 p.m. at the Hyatt Regency Valencia.
June 25: Motown in Town 2 at the Hyatt
Hot on the heels of the original Silicon Valley and the more recently named Silicon Beach, the current buzz is all about the Silicon Suburb or Santa Clarita Valley.
Business Incubator Tenant Selected for Festival of Creativity in Cannes
Senator Scott Wilk, R- Antelope Valley, announces that Senate Bill (SB 792), a measure to establish an oversight commission for Los Angeles County Measure B trauma funding has cleared the Senate Appropriations Committee and is headed to the Senate floor for a vote.
Oversight of LA County Trauma Care Dollars Given Green Light
Princess Cruises has debuted its 2018-2019 Exotics program which will take guests to culturally rich and iconic cruise destinations around the globe.
Princess Cruises Debuts 2018-2019 Exotics Sailings
Senator Scott Wilk, R- Antelope Valley, announces that Senate Bills 634 (SB 634), a measure which would create a new water district in the Santa Clarita Valley, cleared the Senate Appropriations Committee and is headed to the Senate floor for consideration.
SCV Water Agency Merger Bill Clears Senate Panel
During a nighttime operation, SCV Sheriffs deputies and detectives made contact with several individuals which resulted in three arrests for warrants and narcotics related offenses.
SCV Sheriff’s Deputies, Detectives Conduct Nighttime Commercial Burglary Suppression
The Castaic Lake Water Agency Water Resources Committee is scheduled to meet on Thursday, June 1 at 5:30 p.m. at the Santa Clarita Water Division.
June 1: CLWA Water Resources Committee Meeting
In celebration of its 10th year anniversary, the College of the Canyons literary and arts magazine cul-de-sac will release its annual volume at a special reception on Friday, May 26, which will include readings from students.
May 26: COC Literary Magazine Celebrates a Decade of Artistry
The Los Angeles County Sheriff’s Department Santa Clarita Valley Sheriff's Station deputies will be conducting a specialized Motorcycle Safety Enforcement Operation on May 27, 2017 in an effort to lower deaths and injuries.
May 27: SCV Sheriff’s Deputies Conducting Motorcycle Safety Enforcement Operation
The next New Heights panel will focus on "The Nuts and Bolts of Effective Grant Writing" and will be on July 12 from 7:00 p.m. to 9:00 p.m. at The Centre.
July 12: New Heights Discusses Effective Grant Writing
The San Jose Giants rallied late and pulled away for an 11-7 victory over the Lancaster JetHawks in a back-and-forth game on Wednesday night at The Hangar.
JetHawks Fall to San Jose Giants
Wildflower lovers are split into two camps: One camp likes the purple color of the flowers, while the other quickly points out everything that's wrong with this non-native, invasive species.
The Prickly One
1966 - Mustang Drive-In theater opens on Soledad Canyon Road [story]
A Los Angeles Police Department (LAPD) motorcyclist that collided with a truck on Interstate 5 in the early hours of Tuesday morning is recovering at Henry Mayo Newhall Hospital, a spokesman said.
LAPD Motorcyclist in “Serious” Condition after Tuesday’s I-5 Collision
Tonight on SCV NewsBreak, an update on the LAPD motorcyclist that collided with a truck on the I-5 Tuesday morning. Plus, Castaic Middle School students get a glimpse at a career in animal training. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Wednesday, May 24, 2017
An 8-year-old Santa Clarita girl is fighting for her life Wednesday, leaving her family asking the community for blood donations to help her survive.
8-Year-Old Girl in Need of Blood Donations
State Superintendent of Public Instruction Tom Torlakson on Tuesday urged Congress to reject President Trump’s federal education budget proposal, which includes deep cuts to teacher training, after school programs, mental health services, advanced coursework, and many other important programs.
State Superintendent Urges Congress to Reject Federal Education Budget Proposal
On May 16, 2017, the State Water Resources Quality Control Board approved an amendment to the Los Angeles Water Quality Control Plan (Basin Plan) to incorporate Salt and Nutrient Management Measures for the Upper Santa Clara River Basin.
Salt, Nutrient Management Measures Approved for Santa Clara River Basin