BEVERLY HILLS, CA-Fundraising has been completed for Kennedy Wilson Real Estate Fund IV, with capital commitments of $303 million, including $15 million from Kennedy Wilson real estate investment and services firm.
“We are extremely appreciative for the support of our investors,” said a statement from William McMorrow, chairman and CEO of Kennedy Wilson. “We believe the current environment provides an excellent opportunity to generate favorable returns.”
Fund IV, through wholly-owned investments and joint ventures, has amassed a portfolio of 26 investments throughout the Western US since mid-2011. The aggregate purchase price of these investments exceeds $1 billion. Fund IV's assets are diversified across property types, including multifamily, office, retail and residential properties.
Donald Herrema, executive vice chairman of Kennedy Wilson, said in a statement that Fund IV “follows Kennedy Wilson's long-held strategy of leveraging its real estate services platform in sourcing attractive investments, and our strong track record has attracted high quality new investors.”
Fund IV's investor base spans the U.S., Europe and the Middle East and includes pension funds, university endowments and family offices.
As previously reported by GlobeSt.com, the RealShare Finance & Investment forum saw investors say they will consider deals that may not have passed muster in the early stages of the economic recovery.
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