Kennedy Wilson and Partner Purchase Portfolio of 14 Properties in Ireland for €306M

  Kennedy Wilson and Partner Purchase Portfolio of 14 Properties in Ireland
  for €306M

Transaction is largest single CMBS acquisition in Ireland in current economic
                                    cycle

Business Wire

BEVERLY HILLS, Calif. -- July 24, 2013

International real estate investment and services firm Kennedy Wilson (NYSE:
KW) today announced that the company and its partner completed the purchase of
a portfolio of 14 properties for €306 million. The company and its partner
each contributed €60 million of equity in the transaction, and Bank of Ireland
provided €199 million in financing.

Mary Ricks, president and CEO of Kennedy Wilson Europe, commented, “This
portfolio is one of the highest quality portfolios to trade in Ireland in the
current cycle, with an excellent spread of core income assets and some unique,
well located, value-add asset management opportunities.”

“This transaction represents a further commitment on the part of Kennedy
Wilson to the Irish market,” added Peter Collins, managing director of Kennedy
Wilson Europe. “The portfolio includes many first class assets with a strong
tenant roster, including Bank of Ireland, KPMG, Marks & Spencer and Mason
Hayes & Curran.”

The portfolio value is represented by 64% office and 36% retail asset types,
with six properties representing 93% of the total portfolio value. The
majority of the properties are located in Dublin 2 or Dublin 4, and only one
asset is situated outside of Dublin.

Paul McDonnell, Head of Property Finance, Bank of Ireland Corporate Banking,
stated, “We are delighted to support Kennedy Wilson and its partner in
thisimportant acquisition. The Opera portfolio represents the
mostsignificant transaction in the Irish property market for many years and
highlights the continuing recovery of thesector and the wider economy. We
look forward to supportinggrowth in the sector and we remain committed to
leading the way in supportingdomestic and international investment in the
property market.”

Kennedy Wilson, together with its institutional partners, has acquired
approximately $2.0 billion of real estate and real estate related debt
globally since the beginning of 2013. The company and its partners’ real
estate acquisitions in Ireland now total $1.2 billion.

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.

Contact:

Kennedy Wilson
Christina Cha
VP of Corporate Communication
(310) 887-6294
ccha@kennedywilson.com
www.kennedywilson.com
 
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