European Industrial Platform AUM Grows to $1.7 Billion
Global real estate investment company Kennedy Wilson (NYSE:KW) has acquired a high-quality, diversified portfolio of 20 UK urban logistics assets totalling 1.3 million square feet, via an off-market transaction with UK logistics specialist, Leftfield, for $287 million. Kennedy Wilson has a 20% ownership in the portfolio and invested $24 million of equity in the transaction.
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Kennedy Wilson Acquires $287 Million Urban Logistics Portfolio in the UK (Photo: Business Wire)
The industrial properties are situated in strong urban logistics locations across the UK, including London and the South East, Yorkshire and the Midlands. The portfolio is 100% occupied with in-place rents at a significant discount to current market rates.
Since January 2022, the Kennedy Wilson team has acquired more than 41 industrial assets across the United Kingdom, Ireland, and Spain totaling $645 million, including $167 million of deals under contract, and continues to develop …