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Global real estate investment company Kennedy Wilson (NYSE:KW) has acquired Waverleygate, a wholly-owned prime office building in Edinburgh, from the real assets investment manager PATRIZIA for $106 million, excluding closing costs.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220204005034/en/
Waverleygate (Photo: Business Wire)
Waverleygate is one of the most prominent office buildings in the heart of Scotland’s capital city and is 97% occupied by national credit-worthy tenants including Amazon, Microsoft, H&M, the Scottish Government, and the National Health Service. With a Class A vacancy rate in Edinburgh City Centre of 2%, Kennedy Wilson will invest in the property to provide first class amenities and take advantage of the significant growth opportunity in the Edinburgh market.
Waverleygate, which currently produces approximately $6 million of annual net operating income, underwent a significant renovation in 2004 that delivered approximately 203,400 square feet of modern open-plan office space across eight floors and retained the Grade A listed …
Full story available on Benzinga.com
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