A Hayward apartment complex called Waterford has been bought by Kennedy Wilson for $86.5 million.

Kennedy Wilson, a real estate investment trust, bought the 533-unit apartment community with financing help from Freddie Mac.

Freddie Mac provided $68.1 million, or 79 percent of the total purchase amount, in financing through a 10-year note. Kennedy Wilson and its partners invested the remaining $18.4 million, or about 21 percent.

Since 2010, Kennedy Wilson and its institutional partners have acquired approximately $6.6 billion worth of real estate and secured debt through joint venture and consolidated investments

Contact George Avalos at 925-977-8477. Follow him at twitter.com/george_avalos.