Newly-listed Kennedy Wilson Europe Real Estate has completed the acquisitions of the Fordgate Jupiter portfolio in the UK, the Central Park and Opera property portfolios in Ireland and the Liffey Trust building in Dublin for a total of £685 mln (€855 mln), including £202 mln of debt.
Newly-listed Kennedy Wilson Europe Real Estate has completed the acquisitions of the Fordgate Jupiter portfolio in the UK, the Central Park and Opera property portfolios in Ireland and the Liffey Trust building in Dublin for a total of £685 mln (€855 mln), including £202 mln of debt.
Following completion of these acquisitions, the company has invested, or committed to invest, over 85% of the net cash proceeds raised through its IPO carried out in February.
Kennedy Wilson Europe Real Estate said it intends to raise its LTV ratio to 50% in the future.
'The successful completion of these significant acquisitions represents excellent progress towards our goal of building a large-scale and diverse portfolio, with numerous active asset management and value-add opportunities,' commented Mary Ricks, president and CEO of Kennedy Wilson Europe.
Kennedy Wilson Europe Real Estate is an LSE-listed, closed-end investment fund that invests primarily in real estate and real estate loans in Europe, initially in the UK, Ireland and Spain, and other European countries on an opportunistic basis. The company is externally managed by Beverly Hills, California-based Kennedy Wilson.
