Kennedy Wilson Completes Construction of Clancy Quay, the Largest Multifamily Community in Ireland
2020年7月2日 - 5:00PM
ビジネスワイヤ(英語)
The Completion of Clancy Quay Leads 750 Global
Multifamily Units to be Delivered this Year
Global real estate investment company Kennedy Wilson (NYSE: KW)
and its partner announced the completion of the third phase of
Clancy Quay, adding 246 new units to the largest multifamily
community in Ireland that now totals 845 units and will serve as
home for more than 1,800 residents. Clancy Quay builds on Kennedy
Wilson’s growing multifamily portfolio that has shown resilience
and high rent collections throughout 2020 based on prime locations
and best-in-class asset management programs, including a newly
rolled out virtual leasing platform.
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Kennedy Wilson completes construction of
Clancy Quay in Dublin, Ireland (Photo: Business Wire)
“We are proud to deliver on our promise to bring much-needed
residential space and public amenities to this vibrant market, and
to continue raising the bar for multifamily communities in Dublin
and across our global markets,” said William McMorrow, Chairman and
CEO of Kennedy Wilson. “Clancy Quay represents the first of several
global developments that are expected to complete in the near term
as we continue to make excellent progress across all of our
development initiatives.”
Kennedy Wilson acquired the 13.6-acre underutilized site located
near Dublin City Center on the southern banks of the River Liffey
in 2013 and launched a seven-year, phased development that has
added a total 422 units to the community as well as a robust
resident amenity and public space program. The final phase
continued Kennedy Wilson’s restoration and conservation of the
historic Clancy Barracks, which incorporates many protected
structures. Kennedy Wilson holds a 50% ownership interest in Clancy
Quay.
“We are honored to be associated with a property of such
historical significance as the former Clancy Barracks and proud to
have preserved many of its unique and distinctive elements. We have
delivered smart innovation across both the leasing and resident
experience, on top of the best-in-class resident amenities, in a
city-center development that people can call home,” said Ali Rohan,
Head of Ireland for Kennedy Wilson.
The completion of Clancy Quay is the first of many new
multifamily developments totaling 4,100 units that Kennedy Wilson
currently expects to deliver by 2024, with 750 units on track to
complete before the end of the year. The new developments will
bolster Kennedy Wilson’s global multifamily portfolio that now
totals 30,000 units.
In Ireland, where Kennedy Wilson is one of the country’s most
active multifamily real estate investors and operators, more than
$500 million of development projects are underway totaling over
1,000 new multifamily units in various stages of development at
prominent Dublin projects including The Grange and Coopers
Cross.
In the Western United States, 485 multifamily units are expected
to come online this year, including market-rate homes at 38 Degrees
North in Santa Rosa, California; Rosewood Premiere in Boise, Idaho;
and The Clara, in Eagle, Idaho that will all complete and begin
lease-up in Q3 2020. Seatac, a 170-unit new community in Kennedy
Wilson’s growing affordable and senior housing joint venture with
Vintage Housing, will also complete in the Pacific Northwest this
year.
Kennedy Wilson will have an average ownership of approximately
70% across the market-rate multifamily developments that it expects
to complete in 2020.
About Kennedy Wilson
Kennedy Wilson (NYSE:KW) is a leading global real estate
investment company. We own, operate and invest in real estate
through our balance sheet and through our investment management
platform. We focus on multifamily and office properties located in
the Western U.S., U.K., and Ireland. For further information on
Kennedy Wilson, please visit: www.kennedywilson.com.
Special Note Regarding Forward-Looking Statements
Statements in this press release that are not historical facts
are “forward-looking statements” within the meaning of U.S. federal
securities laws. These forward-looking statements are estimates
that reflect our management’s current expectations, are based on
our current estimates, expectations, forecasts, projections and
assumptions that may prove to be inaccurate and involve known and
unknown risks. Accordingly, our actual results, performance or
achievement, or industry results, may differ materially and
adversely from the results, performance or achievement, or industry
results, expressed or implied by these forward-looking statements,
including for reasons that are beyond our control. Some of the
forward-looking statements may be identified by words like
“believes”, “expects”, “anticipates”, “estimates”, “plans”,
“intends”, “projects”, “indicates“, “could”, “may” and similar
expressions. These statements are not guarantees of future
performance and involve a number of risks, uncertainties and
assumptions. Accordingly, actual results or our performance or the
performance of our subsidiaries may differ significantly,
positively or negatively, from forward-looking statements made
herein. Unanticipated events and circumstances are likely to occur.
Factors that might cause such differences include, but are not
limited to, risks associated with our development projects,
including, among other things, material delays in completing such
projects, inability to secure third-party financing on favorable
terms or at all and increase in construction costs, and the risks
that our business strategy and plans may not receive the level of
market acceptance anticipated. Accordingly, you should not unduly
rely on these statements, which speak only as of the date of this
press release. We assume no duty to update the forward-looking
statements, except as may be required by law.
KW-IR
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version on businesswire.com: https://www.businesswire.com/news/home/20200702005113/en/
Investors Daven Bhavsar, CFA Vice President of Investor
Relations +1 (310) 887-3431 dbhavsar@kennedywilson.com
European Media FTI Consulting Dido Laurimore / Eve
Kirmatzis +44 20 3727 1000 kennedywilson@fticonsulting.com
U.S. Media Emily Heidt Director of Public Relations +1
(310) 887-3499 eheidt@kennedywilson.com
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