Kennedy-Wilson

A subsidiary of Kennedy Wilson has announced the launch of a private placement of additional senior notes totaling $200 million. The offering consists of notes with a 7.25% coupon due 2033 and/or a 7.00% coupon due 2031 under Rule 144A and Regulation S. The securities have the same terms as previously issued notes and are unsecured, guaranteed by Kennedy Wilson Holdings and certain subsidiaries. Net proceeds are expected to be used to partially repay the revolving credit facility; completion of the offering is not guaranteed. » More on de.investing.com

Kennedy Wilson, together with Kenedix and Hulic, has acquired the 421-unit Carraway complex in West Harrison, Westchester County, for $237 million. The 2021-completed property offers studios and one- and two-bedroom apartments, retail space, a parking garage and amenities such as a pool and fitness center. According to a statement, rents rose by more than 5% last year; the acquisition is the partners’ fourth joint-venture investment. Kennedy Wilson manages around $37 billion and, according to data, has a strong balance sheet; the stock is considered undervalued. » More on de.investing.com

Kennedy Wilson and APG are establishing a €2 billion joint venture to develop and manage residential real estate in Ireland, covering over 3,400 private rental homes. Kennedy Wilson is acquiring minority stakes in the existing Cherrywood portfolio (around 1,100 units) and in development projects for about 2,300 new units at three Dublin sites; construction work for Player Wills begins immediately, and for Bailey Gibson and Clonliffe in early 2027. Upon completion of the projects, the portfolio managed by Kennedy Wilson in Ireland will total around 6,900 residential units. » More on de.investing.com