Kennedy Wilson acquires 20 urban logistics assets in the U.K.

Kennedy Wilson has acquired a high-quality diversified portfolio of 20 U.K. urban logistics assets in a $287 million off-market transaction with U.K. logistics specialist Leftfield.

The industrial properties are situated in strong urban logistics locations across the United Kingdom, including London, the South East, Yorkshire and the Midlands. The portfolio is 100 percent occupied. Kennedy Wilson has a 20 percent ownership in the 1.3-million-square-foot portfolio and invested $24 million of equity in the transaction.

“This acquisition provides access to a diversified portfolio of strategically located urban logistics assets,” said Mike Pegler, head of U.K. for Kennedy Wilson. “The team has outperformed in its ability to grow the European industrial platform, and we remain confident about the future growth trajectory, which is underpinned by strong fundamentals.”

Since January, the Kennedy Wilson team hasacquired more than 41 industrial assets across the