US firm Kennedy Wilson has landed a $700 mln (€593 mln) mandate with a global investor to be deployed across UK and European real estate via loans.
Beverley Hills, California-based Kennedy Wilson declined to identify the investor but said the mandate was part of an expansion in European real estate debt as it targets loans secured by high-quality real estate from which it will earn customary management fees. All parts of the debt stack are being considered for investment.
Since 2010, Kennedy Wilson has deployed $7 bn in real estate debt globally, including $4.3 bn across Europe.
Fiona D’Silva, head of investment - Europe, said the company was ‘able to track industry and financing trends across multiple asset classes in real time within markets where we benefit from meaningful relationships and a strong local presence'.
It currently has $1.3 bn of loans deployed in Europe.
