- Kennedy Wilson (NYSE:KW), alongside its joint venture partners, AXA Investment Managers – Real Assets, and Cain International have acquired one of the last remaining mixed-use development sites in Dublin’s thriving North Docks. City Block 3 (“CB3”) totals 5.9 acres and will include the development of PRS (private rented sector) and office accommodation.
- The company's ownership in CB3 is 50%, with an initial equity investment of €68M. Kennedy Wilson will act as the development and asset manager of the property.
- Kennedy Wilson and AXA IM - Real Assets acquired the 3.6-acre residential component of the development site through their Irish PRS joint venture, with planning permission already in place.
- Separately, Kennedy Wilson and Cain International, through a 50/50 joint venture, acquired the adjoining 2.3-acre commercial component of the development site, with planning permission for over 300,000 square foot of Grade A office space.
- Press Release