Interest Rate is All-in at 1.7% for Five Years
BEVERLY HILLS, Calif., Aug 02, 2011 (BUSINESS WIRE) --
International real estate investment and services firm Kennedy
Wilson (NYSE: KW) today announced that the company's Japanese
subsidiary refinanced part of its multifamily portfolio in the amount of
$63.8 million at an interest rate of 1.70%, fixed for five years.
Mitsubishi Tokyo UFJ Bank provided the financing, and this transaction
follows the partnership's $262 million refinancing in March of this year.
"We are pleased with the strong relationships that we have with all
three of Japan's megabanks, including Mitsubishi Tokyo UFJ, SMBC and
Mizuho," said Mary Ricks, executive vice chair of Kennedy Wilson. "Our
ability to secure these rates from the country's top banks is a
testament to the quality of our assets and stable cash flow."
Kennedy Wilson has been active in Japanese real estate since 1992 and,
in a separate venture in 2002, 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
Director of Corporate Communication
(310) 887-6294
[email protected]
www.kennedywilson.com