Company completes $1.4 billion of acquisitions in Europe this year,
including $900 million of acquisitions during the fourth quarter
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Dec. 20, 2012--
International real estate investment and services firm Kennedy
Wilson (NYSE: KW) today announced that the company and one of
its investment partners acquired a loan with an unpaid principal balance
of €120 million. The loan is secured by an office building and adjacent
three-acre site in Dublin. The building is 100% leased on a long-term
basis. Additionally, in partnership with a European financial
institution, the company today acquired a large U.K.-based commercial
loan portfolio secured by real estate.
“The office building is located in the South Docklands, which has
established itself as the principal office district in Dublin,” said
Mary Ricks, president and CEO of Kennedy Wilson Europe. “Grade A space
vacancy in the area is trending down while development has fallen over
the last few years, so there is not any significant new supply.”
Including these transactions and the previously announced purchase of
Sandford Lodge, the company and its partners have completed
approximately $900 million of acquisitions in Europe during the fourth
quarter of 2012. In total, Kennedy Wilson has contributed approximately
$110 million into these transactions.
Ricks commented, “This year has been tremendous for Kennedy Wilson as we
have built up the company’s presence in Europe, and we continue to be
active in the fourth quarter. We are very proud of our team of 33
professionals here in London, Dublin and Madrid and look forward to
continue growing the company’s assets under management as we see
opportunities that fit within our business plan.”
Kennedy Wilson, together with its institutional partners, has acquired
$7.8 billion of real estate and real estate related debt since the
beginning of 2010, including approximately $3.6 billion of assets in
Europe. In 2012, on a global basis, the company and its partners have
acquired $2.7 billion of real estate and real estate related debt,
including $1.4 billion 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
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
VP of Corporate Communication
310-887-6294
[email protected]
www.kennedywilson.com