Kennedy Wilson acquires waterfront mixed-use asset in Ireland for €36.3m

Kennedy Wilson and its equity partners have purchased Half Moon Street, a prime, city center mixed-use asset in Cork, Ireland, for €36.3 million ($39.9 million).

Completed in 2009, the 120,000-square-foot property is divided between 56,000 square feet of grade-A office and 63,000 square feet of flagship retail space, according to Kennedy Wilson. It is let to two blue-chip tenants, which make up 96 percent of the income security.

Half Moon Street is located at the corner of Half Moon Street and Lavitt’s Quay, within walking distance of Cork’s retail areas, Opera Lane and Patrick Street, and The Elysian, Kennedy Wilson’s existing multifamily presence in Cork. The waterfront property overlooks the River Lee.

“Half Moon Street is one of the most prominent buildings in Cork city center,” said Peter Collins, president of Kennedy Wilson Europe. “This attractive acquisition adds a high-quality, well-located mixed-use asset to our Cork portfolio at a signif