Kennedy-Wilson Inc. said Monday it has agreed to acquire Beverly Hills property management company Sachse Real Estate, founded by president Ed Sachse.
Kennedy-Wilson, a real estate investor also based in Beverly Hills, said the combination will expand the retail capability of its investments, brokerage and management services offerings. It also will provide Sachse Real Estate a larger platform to source deals, provide equity and invest in deals.
“We are thrilled to welcome Ed to the Kennedy Wilson family and believe that his expertise and strong relationships in the retail sector will allow the company to continue taking advantage of opportunities in this momentum market,” said Chief Executive William McMorrow in a press release.
Terms of the deal were not disclosed. Sachse, which focus on restaurants and high-end retail properties in Los Angeles and Orange counties, has a retail clientele that includes Trader Joe’s, Staples, Petco, Starbucks and Chipotle.
Over a twenty year history, the firm said it has executed over $1 billion in gross sales and leasing.
Shares were up 2 cents, or less than 1 percent, to $10.49 in midday trading on the New York Stock Exchange.
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