Kennedy Wilson Acquires First Tranche Of $5.7 Billion Loan Portfolio From Pacific Western Bank
Acquiring Company
KW stock
Acquired Company
5.7 Billion Loan Portfolio
United StatesOtherReal EstateReal Estate InvestmentCommercial Real EstateDescription
Representing one of the first significant real estate debt transactions in this market cycle, global real estate investment company Kennedy Wilson (NYSE: KW) has closed on the initial tranche of loans as part of a $5.7 billion loan portfolio acquisition from Pacific Western Bank. The first tranche of loans acquired by Kennedy Wilson and certain controlled affiliates of Fairfax Financial Holdings Limited (collectively, “Fairfax") (TSX:FFH and FFH.U), a long-time partner of Kennedy Wilson, totaled $3.25 billion in total commitments and $1.8 billion in current principal balance. The first tranche of loans was acquired for $1.6 billion. An additional 12 loans totaling $800 million in commitments are expected to close on a rolling basis by no later than the end of July (collectively, “Loan Portfolio”).
Quick answer
KW stock is acquiring 5.7 Billion Loan Portfolio, announced June 9, 2023. KW stock is based in United States.
- How much did KW stock pay for 5.7 Billion Loan Portfolio?
- The deal value was not disclosed.
- What does KW stock do?
- KW stock represents shares of Kennedy-Wilson Holdings Inc. which are being converted into cash as part of a completed merger.
- Where are KW stock and 5.7 Billion Loan Portfolio based?
- KW stock is based in United States.
Source: Fundz verified event record.
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Frequently asked
Who acquired 5.7 Billion Loan Portfolio?
5.7 Billion Loan Portfolio was acquired by KW stock, based in United States. The deal was reported on June 9, 2023. KW stock represents shares of Kennedy-Wilson Holdings Inc. which are being converted into cash as part of a completed merger. Shareholders receive a defined cash payout for their investment. KW stock is privately held and operates in Other.
When did KW stock acquire 5.7 Billion Loan Portfolio?
KW stock's acquisition of 5.7 Billion Loan Portfolio was reported on June 9, 2023. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does 5.7 Billion Loan Portfolio do?
5.7 Billion Loan Portfolio is the company acquired in this transaction. It is privately held.
This company was part of an acquisition. Fundz tracks who bought whom, and who to call on both sides.
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