Company finalizes acquisition of $143.5 million five property
portfolio
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Dec. 20, 2011--
International real estate investment and services firm Kennedy
Wilson (NYSE: KW) today announced that it and its equity
partners completed the acquisition of 6400 Canoga, also known as Warner
Atrium, a 126,000 sq. ft. office building in Woodland Hills, CA.
Specifically, the property is located in Woodland Hills’ master-planned
community of Warner Center, which is emerging as the city center of the
San Fernando and Conejo Valleys.
The property is part of the office portfolio acquisition previously
announced by the company in June. The company has now closed all of the
five properties in the portfolio. Kennedy Wilson’s ownership position in
the portfolio is approximately 37%, with the remaining equity owned by
Kennedy Wilson Real Estate Fund IV, Fairfax Financial and The LeFrak
Organization.
Kennedy Wilson, together with its institutional partners, has acquired
approximately $5.1 billion of real estate and real estate secured debt
through joint venture and consolidated investments since the beginning
of 2010. The estimated value of the assets under the company’s
management is currently more than $12 billion.
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