Kennedy-Wilson Buys Dallas Real Estate Firm

Beverly Hills-based Kennedy-Wilson Inc. said it has purchased Fults & Associates Inc., a commercial real estate brokerage and property management firm headquartered in Dallas. The acquisition will expand Kennedy-Wilson’s presence in the Southwest and boost the size of its nationwide property management portfolio to a total of 68 million square feet. The acquisition is the fourth this year for Kennedy-Wilson, which is seeking to expand its nationwide property management portfolio to 100 million square feet by the end of 2000. Terms of the deal were not disclosed. Kennedy-Wilson shares rose 13 cents to close at $8.69 on Nasdaq.