Kennedy Wilson Increases Assets Under Management with $1.8B Purchase in London
National Real Estate Investor reports: Kennedy Wilson, a Beverly Hills, California-based real estate investment and services firm, and its institutional partners purchased a loan portfolio from the Bank of Ireland for $1.8 billion. The loans are secured by class-A office, retail and multifamily properties located in London. Kennedy Wilson will complete the transaction in two phases. It has already closed on the first part of the acquisition valued at $1.4 billion on Oct. 21. At the end of November, it will close on an additional $400 million.
“This is a landmark deal for Kennedy Wilson,” Chairman and CEO William McMorrow said in a statement. “Under the leadership of Mary Ricks, our new team in Europe played a significant role in this success and the closing adds to our already strong base of business in Europe.”
Although recent reports have noted that NYC tops London as a favorite for commercial property investment in the first half of the year, United Kingdom saw $24.3 billion in commercial property sales, representing a 14 percent increase over the same period last year, reports global commercial property research firm Real Capital Analytics.
View the full article on National Real Estate Investor: Kennedy Wilson Increases Assets Under Management with $1.8B Purchase in London
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Posted by: Nina Turner