Whitewater Park Apartments

Levine Financial, Inc & Kennedy Wilson

(traded as KW on the NYSE) kennedywilson.com

In 2013, Accretive identified Boise as an undervalued multifamily market with turbocharged appreciation potential for urban/recreational properties along the Boise River. In 2014, and with knowledge of the future development of the natural, Esther Simplot Waterpark, Accretive found and worked on the off-market acquisition of the 324-unit Whitewater Park Apartments built in 1996 (whitewaterparkapartments.com/.) The property lines Quinn’s Pond, the Boise River and Wave and the natural Simplot Waterpark and minutes from downtown Boise and the Capital. With a $5.7mm renovation that focused on turning the community center into a recreational resort, NOI has increased 70%. Since then, KW has acquired over 1,500 apartments in the Boise MSA with similar characteristics.

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