News Column

Kennedy Wilson Europe Real Estate Has Bought Property, Loans Worth Over GBP1 Billion

June 10, 2014

Anthony Tshibangu

LONDON (Alliance News) - Kennedy Wilson Europe Real Estate PLC Tuesday said it has acquired real estate and real estate loans worth more than GBP1 billion since its initial public offering in February, including around GBP206 million of assumed non-recourse debt.

Kennedy Wilson completed its most recent acquisition last week, when it purchased a mixed-use property portfolio in a deal worth GBP296 million. The mixed-use Fordgate Jupiter portfolio is made up of 21 assets across the UK, including nine offices, five car showrooms, three leisure properties, one retail and one warehouse.

The closed-ended investment fund, which invests primarily in real estate and real estate loans in Europe, said its overall portfolio now consists of seven portfolios of property made up of offices and mixed-use schemes, and one loan portfolio comprising five real estate loans under receivership secured against five properties located across England.

Kennedy Wilson also has a direct minority interest in a loan secured against 20 retail assets covering 1.7 million square feet, with 18 of them located in Northern Ireland the rest in Scotland.

Overall the company said it expects its portfolio to generate around GBP77 million in gross income a year.

Kennedy Wilson shares were quoted up 0.5% at 1,090.00 pence Tuesday morning.

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Source: Alliance News

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