Kennedy Wilson Europe Real Estate plc Completes Purchase of 26 Property Portfolio in England and Scotland for £144 Million

  Kennedy Wilson Europe Real Estate plc Completes Purchase of 26 Property
  Portfolio in England and Scotland for £144 Million

Business Wire

BEVERLY HILLS, Calif. & LONDON -- March 31, 2014

Global real estate investment and services firm Kennedy Wilson (NYSE: KW)
today announced that Kennedy Wilson Europe Real Estate plc (LSE: KWE), an
investment vehicle sponsored and managed by Kennedy Wilson, has acquired a
high quality mixed use portfolio of 26 properties located in England and
Scotland in an off market transaction totaling approximately £144 million.

Mary Ricks, president and CEO of Kennedy Wilson Europe, commented, “We are
pleased to be able to acquire this portfolio of high quality institutional
assets which boast strong tenant demand and the opportunity to add value by
leasing up vacant space.”

The portfolio is a part of the seed portfolio of KWE and includes five retail
properties, seven office properties, one retail warehouse and 13 industrial
estates. Acquired for an aggregate acquisition price of approximately £223
million, the two real estate portfolios acquired to date by KWE together are
comprised of 40 office, industrial and retail properties totaling
approximately 2.6 million sq. ft. and located throughout the United Kingdom.

In February 2014, KWE successfully raised approximately £1 billion of equity
in an initial public offering on the London Stock Exchange. The funds raised
will allow KWE to take advantage of a strong deal pipeline across Europe, with
an initial focus on the UK, Ireland and Spain. Kennedy Wilson is the
investment manager and a 12.2% shareholder in KWE. In exchange for its
services as investment manager, Kennedy Wilson is entitled to receive
management fees as well as performance fees based upon annual asset
appreciation.

“With its first two acquisitions, KWE has now invested nearly a quarter of the
proceeds from its initial public offering,” said Ricks. “Our pipeline remains
robust as we continue to evaluate and pursue many interesting opportunities in
our target markets.”

About Kennedy Wilson

Founded in 1977, Kennedy Wilson is a vertically integrated global 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, on its own
or with partners, invests opportunistically in a variety of real estate
related investments, including commercial, multifamily, loan purchases and
originations, residential, and hotels.Kennedy Wilson offers a comprehensive
array of real estate services including investment management, property
services, auction, conventional sales, brokerage and research. For further
information on Kennedy Wilson, please visitwww.kennedywilson.com.

Contact:

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