This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Kennedy Wilson And Partners Complete $2.9B Of Acquisitions In 2012 For A Total Of $8.0B Of Acquisitions Since 2010

Stocks in this article: KW

International real estate investment and services firm Kennedy Wilson ( NYSE: KW) today announced that the company and its partners acquired three office buildings in the Los Angeles area for a total of $78.5 million. Kennedy Wilson invested $6.5 million of equity in the transactions. These acquisitions bring the total purchases of real estate related assets by the company and its partners to $8.0 billion since 2010, including $2.9 billion in 2012.

Additionally, due to several significant year end payoffs, the UK loan pool representing $2.1 billion in unpaid principal balance (at a purchase price of 80%) acquired in 2011 by the company and its partners has now been paid down to approximately $0.8 billion (at an average resolution value in excess of 95%). Kennedy Wilson owns a 12.5% interest in the loan pool as well as a potential promoted interest in the profits of the partnership.

“The company’s acquisition activity over the last three years reflects remarkable teamwork and our ability to execute on significant opportunities globally,” said William McMorrow, chairman and CEO of Kennedy Wilson. “Additionally, we are also pleased to report great progress in implementing our business plan on the UK loan pool that we acquired at the end of last year. Resolutions are coming in faster and at better recovery rates than we originally anticipated.”

The company’s latest acquisitions include Marina View in Marina del Rey, Royal Beverly Glen in Los Angeles and Tri Center in the San Fernando Valley. Marina View is comprised of a six-story, 60,918 RSF office building, a single story 14,774 RSF retail building and two stories of structured parking. Royal Beverly Glen is a Class A, four-story, 77,749 square foot office building in the Century City submarket of Los Angeles, and Tri Center is a Class A, four-story, 143,256 square foot office building in the Van Nuys submarket.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs