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5/15/20
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Kennedy Wilson has formed a $2 bil platform with Fairfax Financial Holdings Limited that will pursue first mortgage loans secured by high-quality real estate in the Western U.S., Ireland and the U.K. In its role as asset manager, Kennedy Wilson expects to coinvest alongside Fairfax with an average ownership of 20% in the investments, which will be made without leverage, and will earn customary management and performance fees.
Kennedy Wilson and Fairfax first invested together in 2010 when the two companies acquired $250 mil of real estate assets, including real estate secured loans and real property. Over the past decade, the companies have partnered on $7 bil in aggregate acquisitions, including over $3 bil of real estate related debt investments. In addition, Fairfax currently has an equity ownership interest in Kennedy Wilson of approximately 9%.
Kennedy Wilson, together with its partners, has purchased or originated over $6 bil of real estate related debt since 2010.
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