Kennedy Wilson Debt Platform Reaches $ 1 Billion in Western US
Kennedy Wilson’s Debt Investment Platform has reached $ 1 billion in secured loans in the western United States. The team has secured a full suite of debt products, including senior mortgages, mezzanine loans, and other subordinated debt, all backed by a group of well-capitalized sponsors.
The company has focused on high quality real estate in established markets in the United States. Kennedy Wilson’s current debt portfolio consists of 16 loans primarily secured by multi-family buildings and offices located in California, Washington and Colorado. This is Kennedy Wilson’s primary debt strategy, according to Executive Vice President Matt Windisch, who says, “Our strategy is to provide capital to strong sponsors with high quality real estate in the markets we know the best, and we believe that there are many opportunities to continue developing our platform in this context. “
Kennedy Wilson is co-investing with its partners and has to date committed $ 93 million in loans from its debt platform.
In the middle of last year he launched a $ 2 billion debt platform. Kennedy Wilson has partnered with Fairfax Financial Holdings to create the $ 2 billion debt platform to secure first mortgage secured by real estate in the western United States, Ireland and the UK -United. As on his previous debt platform, Kennedy Wilson co-invests alongside Fairfax, taking an average 20% stake in the investments. The two firms have a long-standing relationship and have been investing together since 2010.
In July, the two companies had already native his first loan under the platform, a $ 63 million loan for a multi-family community in Boulder, CO. The senior bridge loan supported the initial rental of the newly constructed project, which includes a mix of studio, one-bedroom and two-bedroom multi-family units and downstairs retail space within easy reach of Denver and Boulder areas. Kennedy Wilson was an asset manager, investing alongside Fairfax and receiving management and performance fees.