Kennedy Wilson Buys $1.8B UK Loan Portfolio

Law360, New York (October 24, 2011, 4:44 PM EDT) -- California real estate investment firm Kennedy Wilson has acquired a $1.8 billion loan portfolio of mostly U.K. properties from Bank of Ireland Group, part of its broader expansion into European markets, the company announced Monday.

The portfolio is primarily secured by London-based commercial, residential and retail properties, and will close in two phases, according to Kennedy Wilson. The first $1.4 billion of the sale was completed Friday, with an additional $400 million expected to be paid in late November.

"This is a landmark deal," Kennedy Wilson...
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