Kennedy Wilson and Fairfax Complete First Loan in $2 Billion Loan Platform
2020年7月10日 - 7:00PM
ビジネスワイヤ(英語)
$63 million loan closes for new multifamily
community in Colorado
Global real estate investment company Kennedy Wilson (NYSE: KW)
and Fairfax Financial Holdings Limited (TSX: FFH and FFH.U)
(“Fairfax”) have closed on a $63 million loan for a newly
constructed multifamily community in the Boulder, Colorado region.
The senior bridge loan is the first to close in a recently launched
$2 billion platform that pursues first mortgage loans secured by
high-quality real estate in the Western U.S., Ireland and the
U.K.
“This loan exemplifies our investment strategy of providing
capital to strong sponsors with well-built projects in our core
markets,” said Matt Windisch, Executive Vice President at Kennedy
Wilson. “We have seen tremendous interest since launching the debt
platform in May that has resulted in a significant pipeline of
opportunities for us to consider. We are excited to complete the
first loan in the platform and to continue building on our long
track record of successful debt investing.”
The senior bridge loan will support the lease-up of the newly
constructed project that is located in close range of the Denver
and Boulder markets and includes a mix of studios, one-bedroom, and
two-bedroom multifamily units and ground-floor retail space. The
homes provide easy access to local amenities as well as many
outdoor recreation activities.
The $63 million loan builds on Kennedy Wilson’s growing real
estate related debt investment activity. Together with its
partners, Kennedy Wilson has purchased or originated approximately
$450 million in real estate related debt over the past year.
The $2 billion debt platform launched in May 2020 is the latest
joint venture for Kennedy Wilson and Fairfax, which have partnered
on $7 billion in aggregate acquisitions over the past decade,
including over $3 billion of real estate related debt investments.
In its role as asset manager, Kennedy Wilson is coinvesting
alongside Fairfax and is earning customary management and
performance fees. Kennedy Wilson invested $16 million in the debt
platform’s first loan.
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.
About Fairfax
Fairfax is a holding company which, through its subsidiaries, is
engaged in property and casualty insurance and reinsurance and the
associated investment management.
KW-IR
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version on businesswire.com: https://www.businesswire.com/news/home/20200710005093/en/
Investors Daven Bhavsar, CFA Vice President of Investor
Relations (310) 887-3431 dbhavsar@kennedywilson.com Media
Emily Heidt Director of Public Relations +1 (310) 887-3499
eheidt@kennedywilson.com
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