BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Nov. 29, 2012--
International real estate investment and services firm Kennedy
Wilson (NYSE: KW) today announced that the company and one of
its investment partners acquired Sandford Lodge, a 119-unit luxury
residential apartment community in Dublin, Ireland. The purchase price
was €27 million, and Kennedy Wilson invested 50% of the equity in the
all cash transaction. Savills advised the seller in the deal. This
acquisition represents the second class A apartment complex acquired by
Kennedy Wilson in Dublin this year.
“We are focused on building out Kennedy Wilson’s multifamily platform in
Ireland,” said Mary Ricks, president and CEO of Kennedy Wilson Europe.
“We are very pleased with this acquisition. The property is running at
full occupancy, and we believe this strong performance will continue as
its location is in one of the most sought after residential submarkets
in Dublin City.”
Situated on a 3.83 acre site of privately landscaped grounds, the
community is located in Ranelagh, Dublin 6 and enjoys convenient access
to extensive amenities, top schools and good public transportation. The
company plans to upgrade the property with various physical improvements
and additional resident amenities.
Kennedy Wilson, together with its institutional partners, has acquired
approximately $6.8 billion of real estate and real estate related debt
since the beginning of 2010. The company’s multifamily portfolio in the
U.S., Ireland and Japan totals 14,247 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
VP of Corporate Communication
(310)
887-6294
[email protected]
www.kennedywilson.com