LONDON-Beverly Hills, CA-based Kennedy Wilson and Toronto-based Fairfax Financial Holdings Ltd. are extending their relationship by adding a $360 million partnership for investment in multifamily property here in Europe. The companies already have millions of dollars invested together in the United States and Japan.

Fairfax is providing about $327 million as a capital commitment to the new partnership, alongside a 10% KW co-investment, with the initial focus being here in the United Kingdom and Ireland. The US-based firm will take the lead role in sourcing, negotiating and executing the acquisition of properties, as well as handling the due diligence, financing, property management, asset management and disposition. Fairfax will review and approve all opportunities sourced by KW through the platform.

The two firms already collaborate on a $278 million US real estate investment partnership, which includes the June purchase of a $144 million office portfolio in Los Angeles. The companies also partnered to refinance $262 million in loans for five apartment buildings in Japan.