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KW, Fairfax Join for $360M in European Assets

LONDON-Kennedy Wilson and Fairfax Financial are long-term partners in multifamily investment around the globe, and will first look for sites here and in Ireland.

By Robert Carr | Updated on March 13, 2012

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.

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