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Kennedy Wilson - Private Placement


JEast
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At our pre-Fairfax dinner this year, we all had the opportunity to talk with William McMorrow, CEO of Kennedy Wilson.  As such, they have been on a somewhat spending spree this year and Fairfax just increased their position in a private placement.

 

http://www.kennedywilson.com/444-kennedy-wilson-enters-into-agreement-for-private-placement-of-common-stock

 

 

Cheers

JEast

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KW has been exceptionally busy of late.  Additional equity will probably be put to work without delay.

 

$56.4M multifamily financing

http://www.rttnews.com/Content/QuickFacts.aspx?Id=1653465

 

BoI Real Estate Investment Mgmt biz

http://www.rttnews.com/Content/QuickFacts.aspx?Id=1636467

 

$145M multifamily asset acquired

http://www.rttnews.com/Content/QuickFacts.aspx?Id=1636093

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James, Could you refresh my memory.  FFH has not been an owner of KW until this point.  But they have a major joint venture with KW.  A.

 

This is the first time they have bought common shares (400,000 at 10.7 ORH).

 

Pref A 6% 100 mln ~ 8 mln shares @ 12.41

Pref B 6.5% 32. 5mln ~3 mln shares @ 10.7

totals about ~20% before the new equity raise

 

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