Through the acquisition of the Toll Brothers Apartment Living platform, Kennedy Wilson purchased a 25% interest in the existing venture for Peregrine. In the months following the transaction, Kennedy Wilson took the opportunity to recapitalize and retain the 2025-built, well located, high performing asset in the Dallas Metro Area.
Located minutes from Dallas Fort Worth International Airport, Peregrine is a mid-rise community offering 364 upscale apartment homes and a curated selection of amenities, including a resort-style pool, a two-story fitness center with yoga and spin studio, and a rooftop lounge. Additional offerings, including a coworking suite, a dog park and pet spa, and dedicated bike storage, further enhance residents’ lifestyles. Peregrine’s residences pair designer finishes, including quartz countertops and stainless steel appliances, with modern conveniences like keyless entry and smart thermostats.
Kennedy Wilson’s development team strategically selected this location for its proximity to both local entertainment and recreation as well as its easy access to the greater Dallas-Fort Worth area. The property is located in Las Colinas, which is a major business hub of the Dallas metro, and serves as the global headquarters for 10 Fortune 500 companies including Caterpillar, Fluor, & McKesson. The location is very infill with limited new development opportunities and attracts business due to the immediate proximity to both airports (DFW & Love Field) and existing infrastructure of offices, hotels, golf courses, and talent from universities.
In early 2026, Kennedy Wilson came to an agreement to recapitalize the venture, replacing the former capital partner with top-tier institutional investors from Japan, Hulic Co., Ltd. and Kenedix, Inc. The off-market recapitalization was executed in just over one month, based on Kennedy Wilson's existing asset management oversight and strong relationships with active capital partners and lenders who participated in the deal.