Kennedy Wilson has acquired a $66.2m (€55m) office campus in the UK with an unnamed equity partner.
The NYSE-listed global real estate investment company said it has bought The Capitol Building, a 173,000sqft in Bracknell in the southeast of the UK.
The partnership invested $29m of equity and Kennedy Wilson’s ownership interest is 51%.
The four-story building is 97% occupied by nine tenants, Kennedy Wilson said.
Mike Pegler, the head of UK for Kennedy Wilson, said: “This attractive acquisition just outside Greater London is the second acquisition with our joint venture partner of a prime suburban office campus, offering a high-income yield from a quality, well-let asset in a local submarket that we know very well.
“The Thames Valley thrives on the tech and life sciences sectors, which are very well represented at The Capitol Building, and are contributing to the increasing demand we are seeing for low-rise and suburban office space.”
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