Company has now refinanced entire Japanese apartment portfolio at an
average interest rate of 2.01%
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Apr. 3, 2012--
International real estate investment and services firm Kennedy
Wilson (NYSE: KW) today announced that KW Residential, LLC,
the company’s unconsolidated Japanese venture, refinanced part of its
multifamily portfolio in the amount of $80 million at a 1.61% interest
rate, fixed for five years. Mitsubishi UFJ provided the financing.
“We were able to lock in favorable rates on the portfolio with
significant positive leverage,” said Matt Windisch, executive vice
president of Kennedy Wilson. “This financing helps to create substantial
current cash flow on the portfolio, which is presently running at 97%
occupancy.”
Within the last 18 months, KW Residential, LLC completed new loans
totaling $327 million at an average fixed interest rate of 2.01% and a
weighted average maturity of June 2016. All of the portfolio loans are
held by Japanese megabanks including Mitsubishi UFJ, SMBC, and Mizuho
Bank.
Kennedy Wilson has been active in Japanese real estate since 1992, and
in 2002, one of the company’s former subsidiaries became one of the
first U.S. real estate companies to go public in Japan.
About Kennedy Wilson
Founded in 1977, Kennedy Wilson is an international real estate
investment and services company headquartered in Beverly Hills, CA, with
23 offices in the U.S., Europe and Japan. The company offers a
comprehensive array of real estate services including auction,
conventional sales, property services 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., Europe and
Japan. For further information on Kennedy Wilson, please visit www.kennedywilson.com.

Source: Kennedy Wilson
Kennedy Wilson
Christina Cha, 310-887-6294
Director of
Corporate Communication
[email protected]
www.kennedywilson.com