Bloomberg News

Kennedy Wilson and Fairfax Financial to Buy Europe Real Estate

March 13, 2012

Kennedy Wilson Holdings Inc. (KW), a real-estate services company, is forming a partnership with Fairfax Financial Holdings Ltd. (FFH) to buy European commercial property, the companies said today in a statement.

The partnership will form a 278 million-euro ($363 million) fund that will focus on the U.K. and Ireland, according to the statement. Fairfax will commit 250 million euros alongside a 10 percent co-investment from Beverly Hills, California-based Kennedy Wilson. The fund is a follow-up to Kennedy Wilson’s and Fairfax’s fully invested $278 million U.S. real estate investment partnership.

“We are pleased with our U.S. commercial real estate partnership with Kennedy Wilson and look forward to investing in European assets through this new platform,” Fairfax Chairman and Chief Executive Officer Prem Watsa said in a statement.

To contact the reporter on this story: Oshrat Carmiel in New York at ocarmiel1@bloomberg.net

To contact the editor responsible for this story: Daniel Taub at dtaub@bloomberg.net


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