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 firstname.lastname@example.org www.kennedywilson.com
Kennedy Wilson Europe Real Estate plc Completes Purchase of 26 Property Portfolio in England and Scotland for £144 Million
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