Company’s global multifamily portfolio now totals 16,242 units
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Jun. 20, 2013--
International real estate investment and services firm Kennedy
Wilson (NYSE: KW) today announced the acquisition of Clancy
Quay, a premier residential property in Dublin, Ireland. The company and
its partner purchased the property for €82.5 million on an all cash
basis. Kennedy Wilson purchased a 50% interest in the property and
expects to place debt financing on the property post-closing.
Mary Ricks, president and CEO of Kennedy Wilson Europe, said, “With the
acquisition of Clancy Quay, our portfolio now includes three of the
highest quality multifamily assets in Dublin, including the Alliance
Building and Sandford Lodge. We plan to continue growing our portfolio
in Ireland and to establish Kennedy Wilson as one of the country’s
preeminent real estate management companies.”
Originally constructed in 2008, Clancy Quay consists of three phases,
with the first phase comprised of 420 units and 36,000 SF of commercial
space. Phases 2 and 3 include an 8.5 acre site with planning permission
for a mix of residential and commercial use.
“We believe that Clancy Quay will offer a highly desirable residence for
people seeking to live in close proximity to Dublin’s city center as
well as the River Liffey and Phoenix Park,” stated Peter Collins,
managing director of Kennedy Wilson Europe. “The property also has the
scale to enable us to provide a level of tenant amenities which are not
seen at other properties in the Dublin market.”
Kennedy Wilson, together with its institutional partners, has acquired
$1.3 billion of real estate and real estate related debt since the
beginning of this year. The company’s global multifamily portfolio now
totals 16,242 units.
About Kennedy Wilson
Founded in 1977, Kennedy Wilson is an international real estate
investment and services company headquartered in Beverly Hills, CA, with
24 offices in the U.S., U.K., Ireland, Spain and Japan. The company
offers a comprehensive array of real estate services including auction,
conventional sales, property services, research 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., U.K., Ireland and Japan. For further information on Kennedy
Wilson, please visit www.kennedywilson.com.
Source: Kennedy Wilson
Kennedy Wilson
Christina Cha, 310-887-6294
VP of Corporate
Communication
[email protected]
www.kennedywilson.com