Kennedy-Wilson Forms $2.32 Billion Real Estate Joint Venture in Ireland

MT Newswires Live06-04 15:55

Kennedy-Wilson (KW) formed a new residential real estate joint venture with APG, on behalf of Dutch pension fund ABP, to create a 2 billion-euro ($2.32 billion) residential development and asset management platform, the company said Thursday.

The venture will include more than 3,400 rented homes, expanding Kennedy-Wilson's presence to around 6,900 residential units, the company said.

Under the terms of the deal, Kennedy-Wilson will acquire a minority equity interest in APG's Cherrywood portfolio in south Dublin and acquire a minority equity interest in and develop around 2,300 new rented units across at three other sites, the company said.

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