Monday 25 September 2017

Kennedy Wilson Europe Real Estate buys group of shops, offices and homes for €472m

Central Park in Leopardstown
Central Park in Leopardstown

US venture capital firm Kennedy Wilson Europe Real Estate has agreed to a group of shops, offices and homes for €472m, its first foray into Ireland since it floated on the stock market earlier this year.

The properties include apartments at Central Park in Dublin.

Kennedy Wilson Europe Real Estate, an arm of U.S. real estate investment fund Kennedy-Wilson Holdings, said today that the completion of the two acquisitions will bring its investments up to 54 office, industrial, retail and multi-family properties across the UK and Ireland, as well as a portfolio of UK loans.

The latest deals include a portfolio of residential and commercial properties located in Dublin for €88.1m, and another portfolio of office and retail properties across Dublin and Cork for €391.4m.

"Our first Irish acquisitions are complementary to our growing portfolio, and reinforce our investment strategy to invest in value-add assets within markets with strong fundamentals and high return potential," said director Mary Ricks said.

When it announced its stock market listing in February, Kennedy Wilson said it would target investments across Europe that would generate a total return of 15pc., its first foray into Ireland since it floated on the stock market earlier this year.

The properties include apartments at Central Park and several other assets in dublin.

Kennedy Wilson Europe Real Estate, an arm of U.S. real estate investment fund Kennedy-Wilson Holdings, said today that the completion of the two acquisitions will bring its investments up to 54 office, industrial, retail and multi-family properties across the UK and Ireland, as well as a portfolio of UK loans.

The latest deals include a portfolio of residential and commercial properties located in Dublin for €88.1m, and another portfolio of office and retail properties across Dublin and Cork for €391.4m.

"Our first Irish acquisitions are complementary to our growing portfolio, and reinforce our investment strategy to invest in value-add assets within markets with strong fundamentals and high return potential," said director Mary Ricks said.

When it announced its stock market listing in February, Kennedy Wilson said it would target investments across Europe that would generate a total return of 15pc.

Online Editors

Also in Business