Kennedy Wilson Europe Real Estate plc, the European subsidiary of Beverly Hills, CA-based Kennedy Wilson Holdings, Inc. (KW), has acquired high quality property portfolios worth GBP 685 million ($1.2 billion) in the U.K. and Ireland. The acquisition is in line with Kennedy Wilson Europe’s strategy of building a large-scale and varied portfolio, with ample active asset management opportunities.
Notably, in Feb, 2014, Kennedy Wilson Europe completed its GBP 1.0 billion initial public offering (IPO) on the London Stock Exchange (:LSE) with the intention of using the proceeds to purchase European properties. Since the public floatation, the company has made acquisitions totaling around GBP 1.1 billion. This includes the recent acquisitions of Fordgate Jupiter Portfolio in the U.K., Liffey Trust Building in Dublin and the Central Park and Opera property portfolios in Ireland.
Kennedy Wilson is a vertically integrated international real estate investment management company with operations spreading across the U.S., the U.K., Ireland, Spain and Japan. In recent times, the company is trying to expand its European foothold through Kennedy Wilson Europe. Starting from the flotation of the IPO to the latest acquisition, all its efforts are aimed at augmenting the European business.
Currently, Kennedy Wilson carries a Zacks Rank #3 (Hold). Some better-ranked real estate operations industry stocks include CBRE Group, Inc. (CBG), Henderson Land Development Co. Ltd. (HLDCY) and HFF, Inc. (HF). All these stocks hold a Zacks Rank #2 (Buy).