Key Developments: Kennedy-Wilson Holdings Inc (KW.N)

KW.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Kennedy-Wilson Holdings Inc And Partner Purchase Portfolio Of 14 Properties In Ireland For EUR 306 Million
Wednesday, 24 Jul 2013 08:38am EDT 

International real estate investment and Kennedy-Wilson Holdings Inc announced that the Company and its partner completed the purchase of a portfolio of 14 properties for EUR 306 million. The Company and its partner each contributed EUR 60 million of equity in the transaction, and Bank of Ireland provided EUR 199 million in financing. The portfolio value is represented by 64% office and 36% retail asset types, with six properties representing 93% of the total portfolio value. The majority of the properties are located in Dublin 2 or Dublin 4, and only one asset is situated outside of Dublin.  Full Article

Kennedy-Wilson Holdings Inc Announces Dividend of $0.07 Per Common Share for Second Quarter 2013
Thursday, 20 Jun 2013 01:52pm EDT 

Kennedy-Wilson Holdings Inc announced that the Company will pay a dividend of $0.07 per share to common shareholders of record as of June 21, 2013 with a payment date of July 2, 2013. The quarterly payment equates to an annual dividend of $0.28 per common share.  Full Article

Kennedy Wilson Holdings Inc And Partner Acquire Class A Office Buildings In Northern California
Thursday, 2 May 2013 08:22am EDT 

International real estate investment and Kennedy Wilson Holdings Inc announced the acquisition of The Pointe at Redwood Shores, two Class A, two-story office buildings totaling 89,455 rentable square feet, located in Redwood City, California. The Company and its partner purchased the property for approximately $22 million, all cash. Kennedy Wilson invested $11 million of equity in the transaction, with debt financing expected to be arranged post-closing.  Full Article

Kennedy Wilson Holdings Inc And Partners Acquire 188-Unit Apartment Community In Northern California For $34 Million
Tuesday, 16 Apr 2013 08:02am EDT 

International real estate investment and Kennedy Wilson Holdings Inc announced the acquisition of Montelena Apartments, a 188-unit multifamily community in Hayward, CA, from a private investment group. The Company and its investment partners purchased the property for $34 million, investing $11 million of equity in the transaction (including $6 million from Kennedy Wilson) and placing approximately $27 million of fixed rate financing with Freddie Mac through CBRE Capital Markets at 3.5% for ten years. The Company and its partners plan to invest approximately $4 million in Montelena to upgrade the exterior finishes, enhance the clubhouse and fitness center and improve the interior units. Kennedy Wilson, together with its institutional partners, has acquired approximately $9 billion of real estate and real estate related debt since the beginning of 2010.  Full Article

Kennedy Wilson Holdings Inc Announces Pricing of Common Stock Offering
Thursday, 14 Mar 2013 07:24pm EDT 

Kennedy Wilson Holdings Inc announced the pricing of its underwritten public offering of 9,000,000 shares of its common stock at a public offering price of $15.70 per share. The Company expects the net proceeds from the offering to be approximately $133.8 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The offering is expected to close on March 20, 2013, subject to customary closing conditions. Kennedy Wilson has also granted the underwriters of the offering a 30-day option to purchase up to 1,350,000 additional shares of common stock. BofA Merrill Lynch, Deutsche Bank Securities and Morgan Stanley are acting as joint book-running managers of the offering. JMP Securities, B.Riley & Co., CJS Securities, Inc. and Sidoti & Company, LLC are acting as co-managers of the offering. The Company expects to use the net proceeds from the offering for general corporate purposes, including future acquisitions and co-investments, and to repay the $35.0 million outstanding balance under its unsecured revolving credit facility.  Full Article

Kennedy Wilson Holdings Inc Announces Offering Of Common Stock
Tuesday, 12 Mar 2013 04:03pm EDT 

Kennedy Wilson Holdings Inc announced that it plans to sell 9,000,000 shares of its common stock in an underwritten public offering. The Company also plans to grant the underwriters a 30-day option to purchase up to 1,350,000 additional shares. BofA Merrill Lynch, Deutsche Bank Securities and Morgan Stanley will act as joint book-running managers of the offering. The Company expects to use the net proceeds from the offering for general corporate purposes, including future acquisitions and co-investments, and to repay the $35.0 million outstanding balance under its unsecured revolving credit facility.  Full Article

Kennedy Wilson Holdings Inc Announces Dividend Of $0.07 Per Common Share For First Quarter 2013
Tuesday, 12 Mar 2013 04:03pm EDT 

Kennedy Wilson Holdings Inc announced that the Company will pay a dividend of $0.07 per share to common shareholders of record as of March 22, 2013 with a payment date of April 2, 2013. The quarterly payment equates to an annual dividend of $0.28 per common share.  Full Article

Kennedy Wilson Holdings Inc And Partner Acquire Loan Secured By Prime Office Building In Dublin
Thursday, 20 Dec 2012 09:17am EST 

Kennedy Wilson Holdings Inc announced that the Company and one of its investment partners acquired a loan with an unpaid principal balance of €120 million. The loan is secured by an office building and adjacent three-acre site in Dublin. The building is 100% leased on a long-term basis. Additionally, in partnership with a European financial institution, the Company acquired a large U.K.-based commercial loan portfolio secured by real estate. Including these transactions and the previously announced purchase of Sandford Lodge, the Company and its partners have completed approximately $900 million of acquisitions in Europe during the fourth quarter of 2012. In total, Kennedy Wilson has contributed approximately $110 million into these transactions.  Full Article

Kennedy Wilson Holdings Inc And Partners Acquire Ritz-Carlton, Lake Tahoe And Ritz-Carlton Residences, Lake Tahoe
Tuesday, 18 Dec 2012 08:12am EST 

Kennedy Wilson Holdings Inc announced that the Company and its partners acquired The Ritz-Carlton, Lake Tahoe and The Ritz-Carlton Residences, Lake Tahoe from the property`s lenders. Pacific Western Bank provided $45 million of financing. The Company invested $18 million of equity in the transaction for a 50% ownership interest. Constructed in 2009, the resort includes The Ritz-Carlton, Lake Tahoe and The Ritz-Carlton Residences. The hotel is the Forbes Four-Star/AAA Five Diamond resort in the Lake Tahoe area and includes 170 guest rooms. The residential component encompasses the entire top floor of the hotel, and a private wing on the third floor includes 23 penthouse residences.  Full Article

Kennedy Wilson Holdings Inc Announces Acquisition Of Harrington Square
Friday, 14 Dec 2012 01:48pm EST 

Kennedy Wilson Holdings Inc announced the acquisition of Harrington Square, a 217-unit multifamily community in Renton, Washington. The Company purchased the property for $41 million, investing $15 million of equity in the transaction with Fannie Mae providing $26 million of financing at 3.35%, fixed for ten years. Kennedy Wilson previously owned the loan on the property, purchasing it at a discount in September of this year.  Full Article

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