Latham & Watkins Advises Kennedy Wilson on US$347 Million Acquisition of Toll Brothers’ Apartment Living Platform

Global real estate investment company Kennedy Wilson (NYSE: KW) and Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, announced that Kennedy Wilson has agreed to acquire Toll Brothers’ Apartment Living platform, including its in-house development team and its interests in a portfolio of completed properties and assets under development, for a total purchase price of US$347 million. The transaction will provide immediate scale to Kennedy Wilson’s investment management platform and its rental housing capabilities, while monetizing a significant portion of Toll Brothers’ investments in rental properties. The transaction is expected to close in October 2025 and is subject to certain closing conditions.

Latham & Watkins LLP represents Kennedy Wilson in the transaction with a corporate deal team led by Los Angeles/New York partner Julian Kleindorfer, New York partner Doug Heitner, and Chicago partner Owen Alexander, with associates Aida Vajzovic, Shane Goodhue, and Liviya James.  Advice was also provided on corporate matters by Alice Bradshaw, Katie Connelly, Taylor Larson, and Leah Beukelman; on environmental matters by Orange County/Washington, D.C. partner Nikki Buffa, with associate Brandon Kerns; on tax matters by Los Angeles partners Ana O'Brien and Eric Cho, with associate Joseph Marcus; on benefits matters by Los Angeles/Bay Area partner Julie Crisp, with associate Aaron Tso; on data privacy matters by Washington, D.C. partner Clayton Northouse; and on intellectual property matters by New York partner Jeffrey Tochner.