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FEBRUARY AUCTION SALES TOTAL $42.4 MILLION; AUCTION SALES YEAR-TO-DATE TOTAL MORE THAN $55 MILLION

 FEBRUARY AUCTION SALES TOTAL $42.4 MILLION;
 AUCTION SALES YEAR-TO-DATE TOTAL MORE THAN $55 MILLION
 SANTA MONICA, Calif., March 3 /PRNewswire/ -- A total of 437 single- family homes, condominiums and townhomes and a residential lot were sold in February during six auctions for total sales of $42.4 million, announced Bill McMorrow, chairman of Kennedy-Wilson Inc., the national real estate auction-marketing firm. Auctions were held in Southern California, on the east coast and for the Resolution Trust Corp. in Dallas.
 Contributing to last month's auction total was the successful close- out sale of The Sunrise Co.'s PGA West in La Quinta, one of the desert's most popular resort communities.
 "The success of the PGA West sale is a clear indicator of how developers are using auction-marketing to create an enthusiastic environment for the final phase of a development," reported McMorrow. "We sold all 66 properties offered for a total of $21.6 million."
 McMorrow reported that since the first of the year, the firm has sold 517 properties at 10 auctions for sales of more than $55 million. Kennedy-Wilson has sold a variety of properties including new single family homes, condominiums and townhomes, residential lots, and estates. Currently, the firm has more than two auctions per weekend scheduled through March, and looking forward to April 5, the much-anticipated sale of 42 luxury ocean view homes at Hamilton Cove on Catalina Island.
 A pioneer in the field of real estate auction-marketing, Kennedy- Wilson Inc. has sold more than $2 billion of residential, resort, and commercial real estate since its founding in 1977. In addition to its Santa Monica headquarters, the firm has offices in Boston, New York, Washington, D.C., San Francisco, Dallas, Houston, San Diego, Orange County, Palm Desert, Chicago, Phoenix and the United Kingdom.
 -0- 3/3/92
 /CONTACT: Sydney Knott of Casey & Sayre, 310-457-3676, for Kennedy-Wilson/ CO: Kennedy-Wilson Inc. ST: California IN: SU:


AL -- LA022 -- 4571 03/03/92 15:21 EST
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Date:Mar 3, 1992
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