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Kennedy Wilson buys office block housing LindedIn's Dublin office for €45m

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LinkedIn have reportedly mailed the payments to the workers

LinkedIn have reportedly mailed the payments to the workers

LinkedIn have reportedly mailed the payments to the workers

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."‎

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