Partnership will initially focus on UK and Irish commercial real
estate; investment builds on fully invested $278 million U.S. partnership
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Mar. 13, 2012--
International real estate investment and services company Kennedy
Wilson (NYSE: KW) today announced the formation of a new
partnership with Fairfax Financial Holdings Limited (TSX: FFH) (TSX:
FFH.U) (“Fairfax”) to pursue acquisitions of European commercial
real estate assets, including loans and real property. The partnership
will initially focus on investments in the UK and Ireland with Fairfax
providing a €250 million capital commitment alongside a 10%
co-investment from Kennedy Wilson. This platform follows on Kennedy
Wilson and Fairfax’s fully invested $278 million U.S. real estate
investment partnership.
Fairfax chairman and CEO Prem Watsa commented, “We are pleased with our
U.S. commercial real estate partnership with Kennedy Wilson and look
forward to investing in European assets through this new platform.”
Fairfax will review and approve all opportunities sourced by Kennedy
Wilson through the new European platform. Kennedy Wilson will play the
lead role in sourcing, negotiating and executing the acquisition of
investment opportunities in addition to holding responsibility for due
diligence, financing, property management, asset management and
disposition.
“Kennedy Wilson and its partners have completed $3.7 billion of deals in
the UK and Ireland to date,” said William McMorrow, chairman and CEO of
Kennedy Wilson. “We are excited to continue our relationship with
Fairfax overseas and to pursue additional opportunities in Europe.”
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
Director of Corporate
Communication
310-887-6294
[email protected]
www.kennedywilson.com