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25/07/2013

Kennedy Wilson And Partner Buy 14 Irish Properties

International real estate investment and services firm Kennedy Wilson has announced that the company and its partner completed the purchase of a portfolio of 14 properties for €306m.

The company and its partner each contributed €60m of equity in the transaction, and Bank of Ireland provided €199m in financing.

Mary Ricks, President and CEO of Kennedy Wilson Europe, commented: "This portfolio is one of the highest quality portfolios to trade in Ireland in the current cycle, with an excellent spread of core income assets and some unique, well located, value-add asset management opportunities.

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"This transaction represents a further commitment on the part of Kennedy Wilson to the Irish market," added Peter Collins, Managing Director of Kennedy Wilson Europe. "The portfolio includes many first class assets with a strong tenant roster, including Bank of Ireland, KPMG, Marks & Spencer and Mason Hayes & Curran."

The portfolio value is represented by 64% office and 36% retail asset types, with six properties representing 93% of the total portfolio value. The majority of the properties are located in Dublin 2 or Dublin 4, and only one asset is situated outside of Dublin.

(CD/JP)

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