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DM1

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    Fairfax 2024

    in Fairfax Financial

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    https://www.businesswire.com/news/home/20240304019257/en/Kennedy-Wilson’s-Real-Estate-Debt-Platform-Reaches-7-Billion-in-Originations

     

    Kennedy Wilson’s Real Estate Debt Platform Reaches $7 Billion in Originations

    Platform totals $11 billion in capital commitments with $4 billion of remaining capacity

    March 04, 2024 06:00 AM Eastern Standard Time

    BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Global real estate investment company Kennedy Wilson (NYSE: KW) announces that its real estate debt investment platform more than doubled in size in the past year and has reached $7 billion in originations with a strong pipeline of new opportunities.

    The milestone comes on the heels of Kennedy Wilson’s acquisition of a $4.1 billion loan portfolio from a regional bank in June 2023 and the subsequent integration of the bank’s lending team, which strengthened real estate debt capabilities and expanded Kennedy Wilson’s presence into key markets across the United States. Since the acquisition of the portfolio, the debt team has closed approximately $500 million of new loans with $1.3 billion currently expected to close by Q2 2024, focused primarily on multifamily and student housing construction lending opportunities with high-quality sponsors seeking loans in the range of $40-$200 million.

    Kennedy Wilson’s debt platform, originally launched in 2020 and expanded in Europe in 2021, benefits from a unique, unlevered structure. The lending team provides a hands-on approach to each loan, rooted in Kennedy Wilson’s historic strengths in real estate asset management. In 2024, Kennedy Wilson plans to roll out a best-in-class debt servicing platform that will further expand its capabilities.

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