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Kennedy Wilson and Partners acquire €113M, six-acre, mixed-use development site in Ireland

Oct. 03, 2018 5:43 AM ETKennedy-Wilson Holdings, Inc. (KW) StockBy: Gaurav Batavia, SA News Editor
  • 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

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