Kennedy Wilson Debuts The Ritz-Carlton Residences, Lake Tahoe

  Kennedy Wilson Debuts The Ritz-Carlton Residences, Lake Tahoe

    Sales Launch of 23 Penthouse Residences, Located in One of the World’s
   Greatest Natural Playgrounds, Offers Unprecedented Ownership Privileges

  Dynamic Designer Jay Jeffers Unveils Custom Show Homes Infused with Modern
                               California Cool

Business Wire

BEVERLY HILLS, Calif. -- February 20, 2013

International real estate investment and services company Kennedy Wilson
(NYSE: KW) and its partners today announced the official debut of The
Ritz-Carlton Residences, Lake Tahoe. Perched mid-mountain at Northstar, The
Residences are comprised of 23 luxury penthouses, which were unveiled to the
public and for purchase on February 17, 2013.

The Ritz-Carlton Residences, Lake Tahoe (Photo: Business Wire)

The Ritz-Carlton Residences, Lake Tahoe (Photo: Business Wire)

Encompassing the entire top floor and a private wing of the third floor of The
Ritz-Carlton, Lake Tahoe, the area’s first Forbes Four Star and AAA Five
Diamond resort and the first Ritz-Carlton resort to receive LEED Certification
from U.S. Green Building Council, The Residences combine the charm, excitement
and possibilities of Tahoe with the warmth, style and legacy of The
Ritz-Carlton brand.

“The Residences are unlike any other residential destination in the Sierra and
we are very pleased to celebrate its grand opening, which provides the
first-ever opportunity for a privileged group of only 23 owners to enjoy the
iconic, luxury living experience for which The Ritz-Carlton brand is known,”
said Stuart Cramer, president of KW Residential Investment Group. “The
Ritz-Carlton, Lake Tahoe established Lake Tahoe as a true world-class
destination, within which The Residences represent an intimate and exclusive
neighborhood that is destined to be a favorite gathering place for family and
friends for years to come.”

The Residences exclusively afford owners and their families the best of both
worlds: the excitement that comes with an all-season pass to Lake Tahoe, and
the comforts and luxuries of The Ritz-Carlton. Offering elevated mountain
living, The Residences are whole ownership homes consisting of two-, three-,
and four-bedroom penthouses ranging from 1,554 to 3,407 square feet. The
ski-in/ski-out residences, located at an elevation of 7,000 feet, boast
exceptional views of Northstar Mountain, Martis Valley and Mt. Rose, with each
penthouse featuring a unique floor plan that is distinctive, luxurious and
livable. The Residences are selling from $1.25 million to $4.5 million.

The Residences were built within a natural wonderland, enhanced by
unprecedented ownership privileges. Owners of the penthouses will enjoy
pre-arrival concierge service, valet parking, a Residence Concierge, Ski Valet
services, a private entry corridor and an elevator that delivers owners to
their penthouses. Owners will also benefit from priority access to the
exclusive facilities, services and amenities of the hotel, including its
17,000-square-foot Highlands Spa, fine dining in the resort’s signature
lounges and Manzanita restaurant, in-residence dining, Executive Business
Service Center and The Ritz Kids program.

In conjunction with the grand opening of The Residences, Kennedy Wilson is
unveiling three custom show homes by the dynamic Jay Jeffers, named one of the
country’s top designers by ELLE Décor Magazine. A three-bedroom and a
four-bedroom residence by the designer were unveiled on February 17; a
four-bedroom split-level penthouse will debut in mid-March 2013. Jeffers was
engaged by Kennedy Wilson to conceptualize the design, look and feel for the
model homes, which bring cosmopolitan style to the mountains, marrying the
urbane and the organic in a look he likes to call, “California Mountain.”

The Residences are available for immediate occupancy. The sales launch comes
less than two months after Kennedy Wilson and its partners acquired The
Ritz-Carlton hotel and residences from the property’s lenders, and follows an
unprecedented strong season for the hotel under the auspices of new ownership.

Potential buyers who wish to schedule an appointment can visit the sales
office on the entry level of The Ritz-Carlton, Lake Tahoe or call
530-562-3114. To learn more about The Residences, please visit
www.rcr-laketahoe.com.

About Kennedy Wilson

Founded in 1977, Kennedy Wilson is an international real estate investment and
services company headquartered in Beverly Hills, CA with 24 offices in the
U.S., U.K., Ireland, Spain and Japan. The company offers a comprehensive array
of real estate services including auction, conventional sales, property
services, research and investment management. Through its fund management and
separate account businesses, Kennedy Wilson is a strategic investor of real
estate investments in the U.S., U.K., Ireland and Japan. For further
information on Kennedy Wilson, please visit www.kennedywilson.com.

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Contact:

Glodow Nead Communications
Jenn Wade, Courtney Finley, Heidi Pettit and Lena Dakessian, 415-394-6500
jenn@glodownead.com
 
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