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KW, Partner Spend $406M For Dublin Portfolio

DUBLIN-This transaction is largest single CMBS acquisition in Ireland in current economic cycle.

By David Phillips | Updated on July 29, 2013

DUBLIN-International firm Kennedy Wilson and its partner have completed the purchase of a mixed portfolio of 14 properties for $406 million (€306M). The company and its partner each contributed about $80 million (€60M) of equity in the transaction, and Bank of Ireland provided approximately $264M (€199M) in financing.

“This portfolio is one of the highest quality portfolios to trade in Ireland in the current cycle, with an excellent spread of core income assets and some unique, well located, value-add asset management opportunities,” said Mary Ricks, president and CEO of Kennedy Wilson Europe.

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