Kennedy Wilson, Fairfax JV Targets $250M in Buys

BEVERLY HILLS, CA-A joint venture of locally based Kennedy Wilson and Fairfax Financial Holdings Ltd. plans up to $250 million in acquisitions via a capital commitment of the same amount from Fairfax. The $250 million capital commitment follows a recent agreement for Fairfax to purchase up to $100 million of convertible preferred stock, as reported on GlobeSt.com.

The new acquisitions venture will be looking for commercial properties as well as loans and will focus mainly on California. The new agreement means that Kennedy Wilson will be “working with Fairfax on both the corporate level and deal level,” said William McMorrow, chairman and CEO of Kennedy Wilson.