Kennedy Wilson has formed a residential joint venture with APG, on behalf of, amongst others, Dutch pension fund ABP, one of the world's largest pension investors, to create a €2 billion ($2.33 billion) residential development and asset management platform. The venture will encompass more than 3,400 private rented homes across both operating and development assets, further strengthening Kennedy Wilson’s position as the leader in residential real estate in the Irish market. Upon completion of the developments, Kennedy Wilson’s owned and managed Irish portfolio will extend to approximately 6,900 residential units.
As part of the joint venture Kennedy Wilson will acquire a minority equity interest in APG's existing Cherrywood portfolio in south Dublin, one of Ireland's largest multifamily communities. The more than 1,100-unit portfolio is already fully developed and occupied, and APG will retain a majority interest. The second will also see Kennedy Wilson acquire a minorit
