Kennedy Wilson, in a joint venture with equity partner Hanover Financial, purchased a 168-unit apartment community in Stanton, Calif.

The value of the transaction was $20 million.

The property, Arrowhead Apartments, is located between 12241-12381 Arrowhead St. Built in 1973, it is a 2-story, 4-building complex that rests on nearly a city block totaling 200,000 square feet of residential living.

Long Beach-based RK Properties was the seller.

Beverly Hills, Calif.-based Kennedy Wilson Inc. is a real estate investment fund management and services company.

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