Kennedy Wilson and Fairfax complete first loan from $ 2 billion lending platform

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BEVERLY HILLS, Calif .– (COMMERCIAL THREAD) – Global real estate investment firm Kennedy Wilson (NYSE: KW) and Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) (“Fairfax”) have closed $ 63 million loan for newly multi-family community built in the Boulder, Colorado area. Senior bridging loan is first to close under recently launched $ 2 billion platform that pursues senior mortgages backed by high quality real estate in western US, Ireland and the UK.

“This loan illustrates our investment strategy of providing capital to strong sponsors with well-built projects in our core markets,” said Matt Windisch, executive vice president of Kennedy Wilson. “We have seen tremendous interest since the launch of the debt platform in May, which has allowed us to envision a significant pipeline of opportunities. We are excited to close the platform’s first loan and continue to build on our long history of successful debt investing. ”

The senior bridge loan will support the rental of the newly constructed project which is located close to the Denver and Boulder markets and includes a mix of studio, one-bedroom and two-bedroom multi-family units and retail space on the ground floor. -of the road . The homes provide easy access to local amenities as well as many outdoor recreational activities.

The $ 63 million loan builds on Kennedy Wilson’s growing real estate-related debt investing activity. Along with his partners, Kennedy Wilson has purchased or issued approximately $ 450 million in real estate debt over the past year.

The $ 2 billion debt platform launched in May 2020 is the latest joint venture of Kennedy Wilson and Fairfax, who have partnered for $ 7 billion in global acquisitions over the past decade, of which more than 3 billion dollars in real estate debt investments. In his role as asset manager, Kennedy Wilson co-invests alongside Fairfax and receives the usual management and performance fees. Kennedy Wilson invested $ 16 million in the debt platform’s first loan.

About Kennedy Wilson

Kennedy Wilson (NYSE: KW) is a leading global real estate investment firm. We own, operate and invest in real estate through our balance sheet and through our investment management platform. We focus on multi-family and office buildings located in the Western United States, United Kingdom and Ireland. For more information on Kennedy Wilson, please visit: www.kennedywilson.com.

About Fairfax

Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and related investment management.

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