Kennedy Wilson Conducts New Homes Auction and Sells 26 Homes in Chatsworth and Pacoima, California
Kennedy Wilson Auction Group, a division of the international real estate services and investment firm Kennedy Wilson(NYSE Amex: KWIC), conducted an auction of 14 luxury town homes at Hansen Villas in Pacoima and 12 designer condominiums at Independence Villas in Chatsworth, California, respectively. The 26 homes were all sold at auction on Sunday, November 15, 2009 at the Airtel Plaza Hotel in Van Nuys, CA.
Over 700 enthusiastic prospective buyers, their families and friends, filled one of the large ballrooms at the Airtel Plaza Hotel in Van Nuys to bid on the condominiums being sold on one action-packed auction afternoon! Location, design and quality were just the start of the story at the Hansen Villas and Independence Villas. It was the fact that bidders at the auction could name their price that drew homebuyers to the auction, eager to live in these distinctive home communities offering an exhilarating way of life. Located in the San Fernando Valley these new homes are within reach of the natural playgrounds of the San Gabriel and Santa Susanna Mountains.
Hansen Villas' starting bids ranged from $125,000 to $150,000 for full-featured, 3- to 4-bedroom town homes previously priced from $400,000. All 14 town homes offer residents 2,250 square feet of living space. Starting bids at Independence Villas in Chatsworth, ranged from $145,000 to $170,000 for 3-bedroom, 2.5 bath designer town homes previously priced from $355,000 to $425,000. These town homes offer up to 2,580 square feet of living space and two different floor plans. All 26 homes sold in one hour, totaling more than $8.1 million in sales.
"We had the perfect combination for homebuyers at this auction: low starting bid prices, large homes, and appealing incentives," said Rhett Winchell, president of Kennedy Wilson's Auction Group. "We believe, given the current real estate cycle, that there are many more projects like these which can benefit from our auction marketing program.”
Founded in 1977, Kennedy Wilson is a vertically-integrated real estate investment and services company headquartered in Beverly Hills, CA with 21 offices in the U.S. and Japan. The company offers a comprehensive array of real estate services including property and asset management, brokerage and auction services, and construction and trust management. Through its fund management and separate account businesses, Kennedy Wilson is a strategic investor and manager of real estate investments in the United States and Japan.
Since inception, the Kennedy Wilson Auction Group has conducted many successful auctions of condominiums and single-family homes throughout the United States, Europe and Asia. It conducts ballroom style, site-to-site, and on-line auctions for all types of real estate. Go to BidKW.com or www.kennedywilson.com for more information about upcoming auctions.
Contacts:
Kennedy Wilson
Rhett Winchell, 310/887-6446