Kennedy Wilson buys office block housing LindedIn's Dublin office for €45m
Kennedy Wilson has bought the office block housing LinkedIn's Dublin office in a deal worth €45m.
In a statement, Kennedy Wilson said it had taken Gardner House in Dublin 2 in an off market transaction.
The firm bought the loans relate to the property last November.
Kennedy Wilson is believed to have bought the office block from a consortium of individuals who paid €82m for it during the boom.
About €74m of borrowings tied to that deal were outstanding.
Kennedy Wilson Europe chief executive Mary Ricks commented: "The off market purchase of the Gardner House loans back in November provided KWE with a high quality income stream while we explored resolutions with the borrower. We are pleased to successfully employ our 'loan-to-own' strategy to access a high quality property in a prime location. Our ability to deliver significant value-enhancing asset management initiatives into a strong Dublin office market makes this a very attractive addition to our Dublin portfolio."