Platform includes loans secured by high-quality real estate across the Western U.S. and Europe
BEVERLY HILLS, Calif.–Global real estate investment company Kennedy Wilson (NYSE: KW) announces that its debt investment platform now exceeds $2 billion in real-estate secured loans, including $300 million in future funding commitments.
Kennedy Wilson reached the milestone following the launch of the debt platform in 2020 and a subsequent expansion into Europe in mid-2021. The company’s global debt platform is targeting $3 billion in total loan investments. Since January 2021, the Company has originated approximately $1.4 billion in loans while achieving $260 million in loan repayments.
“We are pleased to surpass the $2 billion mark just one year following the launch of our debt platform, which is a testament to the flexibility of our capital solutions and the unique perspective we offer as an asset manager with an ownership interest in $21 billion of real estate globally,” said Matt Windisch, Executive Vice President at Kennedy Wilson. “Our strategy of providing capital to strong sponsors with high-quality real estate in the markets we know best along with our no-nonsense approach to lending provides a long runway to continue building on our debt platform in the coming years.”
Kennedy Wilson invests alongside its strategic partners with an average ownership of 7.5% across the debt portfolio, which is unlevered and backed by a group of well-capitalized sponsors with an average loan size of $70 million. The loans are primarily secured by multifamily, office and hospitality properties located throughout Kennedy Wilson’s core U.S. markets in California, Washington, Utah and Colorado as well as the United Kingdom.
“Our European lending activity has taken off since we expanded into our core European markets earlier this year,” said Fiona D’Silva, Head of Investment, Europe. “We are filling a need for a streamlined and efficient approach to lending, and we are excited to expand on our progress, offering creative financing solutions across the capital structure and risk spectrum.”
Kennedy Wilson coinvests alongside its partners with an expected 5-10% average ownership in future loans. The platform is the latest venture in Kennedy Wilson’s long history of debt investment activity. Together with its partners, Kennedy Wilson has completed approximately $8 billion in real estate related debt investments since 2010.
About Kennedy Wilson
Kennedy Wilson (NYSE:KW) is a leading global real estate investment company. We own, operate, and invest in real estate through our balance sheet and through our investment management platform. We focus on multifamily and office properties located in the Western U.S., U.K., and Ireland.