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International real estate investment and services firm Kennedy Wilson
KW today announced that the company and one of its investment partners
acquired a portfolio of 29 U.K. real estate assets for approximately £63
million ($101 million) out of a CMBS pool of assets. Kennedy Wilson invested
$21 million of equity in the transaction. The properties were purchased on an
all cash basis.
Sixty percent of the portfolio's assets are located in London and the
Southeast, with the remaining spread throughout the rest of the country. The
asset types are primarily office buildings but also include industrial and
retail properties. The combined floor area of the properties is in excess of
1.1 million sq. ft. On a trailing twelve month basis, the properties currently
generate a 15% yield.
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