Bay Area Smart Growth Fund II

With the demonstrated successes of the existing funds on achieving both bottom lines, the Bay Area Council is currently capitalizing a fourth fund, Bay Area Smart Growth Fund II. With a first close at $41.25 million, which took place May 31st, 2007, the fund is now actively exploring real estate investment opportunities around the Bay Area. This fund, like the Smart Growth Fund I, invests in spectrum of real estate projects including retail, office, industrial, and housing (for sale and rental). Mixed-use, urban in-fill, and transit-oriented projects are encouraged as investments that serve to revitalize underserved neighborhoods.

Kennedy Wilson, Fund Manager

Kennedy Wilson, Fund Manager for Bay Area Smart Growth Fund II, is a publicly traded (but closely-held, with over 65% owned by management and employees), vertically integrated, full-service real estate investment and management company. Founded in 1977, they have grown to over 500 employees in 18 offices throughout the United States. They provide a variety of institutions with real estate services, including acquisitions, asset management, leasing, property management, mortgage financing, investment sales, construction management, and development. Kennedy Wilson formally entered the fund management business in 1999. Assets under management include 50 million square feet of commercial property, valued at over $5 billion and representing more than 250 assets, and over 10,000 apartments nationwide.

Kennedy Wilson’s long term commitment to the Bay Area is demonstrated through its two local offices staffed with over 120 real estate professionals. Together with the Bay Area Council, Bay Area Smart Growth Fund II offers investors the opportunity to participate in a double bottom line fund that will produce superior financial returns to the private equity investors (the first bottom line) and superior returns of quality jobs, wealth creation, and community revitalization to the community stakeholders (the second bottom line).