Kennedy Wilson Acquires Prime Suburban London Office Campus for $66 Million
2021年6月25日 - 4:00PM
ビジネスワイヤ(英語)
Global real estate investment company Kennedy Wilson (NYSE: KW)
and its equity partner have closed the acquisition of The Capitol
Building, a Grade A, 173,000 square-foot institutional quality
office campus for $66.2 million, reflecting a cap rate of 7.7%.
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The Capitol Building, Bracknell (Photo:
Business Wire)
The partnership invested $29 million of equity and Kennedy
Wilson’s ownership interest is 51%.
The Capitol Building, in Bracknell, is part of the active Thames
Valley submarket. It is 97% occupied by nine tenants across the
tech and business service sectors. The four-story building is set
within a professionally landscaped environment and offers a range
of tenant amenities to drive demand, as businesses look to improve
the wellness and access to green space for staff. Amenities include
meeting rooms, break out areas, a canteen, bike storage, shower
facilities and landscaped grounds with picnic tables.
“This attractive acquisition just outside Greater London is the
second acquisition with our joint venture partner of a prime
suburban office campus, offering a high-income yield from a
quality, well-let asset in a local submarket that we know very
well,” said Mike Pegler, Head of UK for Kennedy Wilson. “The Thames
Valley thrives on the tech and life sciences sectors, which are
very well represented at The Capitol Building, and are contributing
to the increasing demand we are seeing for low-rise and suburban
office space.”
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.
KW-IR
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
assumptions that may prove to be inaccurate and involve known and
unknown risks. Accordingly, our actual results or performance may
differ materially and adversely from the results or performance
expressed or implied by these forward-looking statements, including
for reasons that are beyond our control. For example, we may not be
able to maintain our current acquisition or disposition pace or
identify future properties to acquire on terms we consider
attractive, and our current property portfolio may not perform as
expected. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210625005057/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
Kennedy Wilson (NYSE:KW)
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