News Column

United Kingdom : KENNEDY WILSON announces assets buyouts for 120 MILLION

August 2, 2014

Kennedy Wilson declared that it has inked an agreement to buy the Elliott loan portfolio secured against a portfolio of 13 real estate assets for 75 million.

The portfolio includes mainly of offices, industrial, retail and residential properties for 75 million.

90% of the loan portfolio by value is comprised of three assets including an apartment block near St James's Hospital in Dublin 8, a retail park in Cavan and the Irish Times Building in Dublin City Centre.

Separately, the company is also acquiring the Marshes Shopping Centre in Dundalk for 44.5 million which was owned by Abbey Centre Ltd.

Ulster Bank was the lender, with the matured debt repayable on demand.

The Marshes Shopping Centre comprises 39 retail units and a food court, and is currently 93% let to a range of retailers.

It is estimated that the deal will be completed by early September 2014.

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Source: TendersInfo (India)

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