BEVERLY HILLS, CA—Kennedy-Wilson Holdings said Friday it had completed its merger with Kennedy Wilson Europe Real Estate plc. First announced this past April, the combination creates an investment and asset management platform with an enterprise value of $8 billion.

“We are moving towards a simplified corporate structure that provides more recurring income from stable property cash flows and greater upside potential from value-enhancing initiatives worldwide,” says William J. McMorrow, KW's chairman and CEO, who adds that the merger represents “an exciting new chapter” for the company. The KWE platform adds 207 assets across 11.4 million square feet to KW's portfolio, and is expected to generate $200 million in NOI annually.

Although office will represent 36.2% of the combined portfolio by asset class, 34% of its total property NOI will come from KW's western US multifamily portfolio, according to the company's most recent investor presentation on the merger. By geography, slightly more than half will be located across the UK and Ireland.