A Good Time To Go Shopping For Debt, As Kennedy Wilson Races Toward $3B Target

There are good times to go shopping, and bad times to go shopping, and the good times are when everyone else is at home.

Kennedy Wilson, the Beverley Hills-based global investment giant, chose 2021 to go shopping in the UK, and it proved to be the best time of all.

The firm said that its debt investment platform now exceeds $2B in real estate secured loans, including $300M in future funding commitments. Most of the heavy lifting was done since January 2021, including the origination of approximately $1.4B in loans while achieving $260M in loan repayments.

The loans are primarily secured by multifamily, office and hospitality properties located in the UK and in Kennedy Wilson’s core U.S. markets in California, Washington, Utah and Colorado.

Kennedy Wilson reached the milestone following the launch of the debt platform in 2020 and a subsequent expansion into Europe in mid-2021. The company’s global debt platform is targeting $3B in loans.

Kennedy Wilson invests alongside partners like insurance companies and sovereign wealth funds, with an average ownership of 7.5% across the debt portfolio. It is unlevered and backed by a group of well-capitalised sponsors with an average loan size of $70M.

In July 2021 Kennedy Wilson expanded its global debt platform, adding $700M to focus on European debt opportunities.

“Our European lending activity has taken off since we expanded into our core European markets earlier this year,” Kennedy Wilson Head of European Investment Fiona D’Silva said.

“We are filling a need for a streamlined and efficient approach to lending, and we are excited to expand on our progress, offering creative financing solutions across the capital structure and risk spectrum.”

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's London Newsletters
Related Stories

GTIS Partners Rebrands As Brightshore Capital, Launches $250M Debt Platform

'Beyond A Routine Wobble': 10-Year Treasury Clears 5% Ahead Of Key Fed Meeting

Airbnb Launches $250M Fund To Invest In Affordable Housing

Judge Dismisses Suit Alleging Alexandria Misled Investors Over Portfolio Strength

Battersea Power Station Reveals Plans To Double Development Again

Canadian CRE Investors Shrug Off Trade War, Spend $9B On U.S. Assets

HPP, Blackstone Nab Extension On $1.1B Loan Tied To 2.2M SF Hollywood Portfolio

BMO Executive Named New CEO At CREFC

New Occupiers And More VC Money Fuel UK Life Sciences Rebirth

Traders Bet On A Rate Hike From The Fed After Inflation Report Climbs Higher

Canadian Firm Raises £680M For 6,000-Home UK BTR Push

Limekiln Sells Stake In Multifamily Lender MF1 To Berkshire Residential