Publications

Investors - SEPTEMBER 11, 2019

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Kennedy Wilson forms $500m JV

by Andrea Zander

Kennedy Wilson has formed a new joint venture platform with Security Benefit targeting stabilized, income-producing, high-quality real estate investment opportunities in the Western United States.

The joint venture is initially targeting $500 million of investments with potential to grow. In its role as asset manager, Kennedy Wilson expects to invest alongside Security Benefit with a 20 percent interest in the investments of the joint venture and will earn customary fees.

The joint venture also announced the acquisition of Sunset North, an institutional-quality, three-building campus in Bellevue, Wash., for $227 million. The joint venture invested $77 million of equity, including $15 million of equity from Kennedy Wilson, and secured a 10-year, fixed-rate, interest-only loan for $150 million at 3.25 percent.

Its first acquisi

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.