Fairfax and Kennedy Wilson Invest $365m in European Commercial Property

Investment companies, Fairfax Financial Holdings Ltd. and Kennedy Wilson have formed a $365m partnership to seek out commercial property ventures in Europe – initially within the United Kingdom and Ireland.

Fairfax, based in Toronto, are reported to have provided $327m to Kennedy Wilson of California, who will be contributing a 10% co-investment. To date, Kennedy Wilson have have completed $3.7billion of deals within the UK and Ireland; this joint venture hopes to provide more opportunities for Fairfax to become involved.

The partnership was established back in May 2010 after Fairfax purchased $100m of Kennedy Wilson’s convertible properties. The joint transactions that followed include real estate assets worth $600m in Tokyo and an office space portfolio worth $143.5m in Los Angeles.

Search Office Space is interested to see what UK and Ireland based commercial property investments will follow.

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