Kennedy Wilson Acquires Prime London Office for $252 Million
2021年6月29日 - 4:01PM
ビジネスワイヤ(英語)
Company recycles proceeds from recent asset
sales
Global real estate investment company Kennedy Wilson (NYSE: KW)
has acquired One Embassy Gardens for $252 million, excluding
closing costs, in an off-market transaction that is currently
expected to add $12 million in annual net operating income.
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One Embassy Gardens (Photo: Business
Wire)
Located in London’s Nine Elms district, the 156,000-square-foot,
recently developed, Grade A office building was designed to
minimize energy and water consumption and was awarded BREEAM
Excellent certification.
One Embassy Gardens is part of the wider Embassy Gardens estate,
a new riverside district immediately adjacent to the U.S. Embassy
and close to Apple’s new 500,000-square-foot headquarters at
Battersea Power Station. The asset is 82% occupied by publisher
Penguin Random House, with 8.3 years of term on the lease and a
two-year rental guarantee from the vendor on the vacant space.
“One Embassy Gardens represents an excellent opportunity to
recycle proceeds following the recent opportunistic sale of our
central London office asset, Friars Bridge Court, where we sold at
a capital value of £1,600 per sq ft and a cap rate of 3.5%. We are
now buying new modern stock at £1,140 per sq ft and cap rate of
4.5%, adding $12 million of day-one NOI to Kennedy Wilson with
ongoing growth prospects as the area becomes more established and
rents converge to levels similar to other Central London
submarkets,” said Mike Pegler, Head of UK for Kennedy Wilson. “One
Embassy Gardens is a high-quality, green-certified asset of scale
with a secure income stream within one of the fastest-expanding
submarkets of central London and it is set to further benefit from
the ‘tech-clustering’ effect when Apple opens its HQ in 2022.”
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/20210629005335/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)
過去 株価チャート
から 6 2024 まで 7 2024
Kennedy Wilson (NYSE:KW)
過去 株価チャート
から 7 2023 まで 7 2024