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Kennedy Wilson, a global real estate investment company, has announced a dividend of $0.12 per common share for the second quarter of 2024. The company aims to retain $66 million per year to strengthen its investment management business, repurchase securities, and reduce leverage.
Kennedy Wilson Holdings, Inc. reported Q1-2024 results with a significant growth in adjusted net income, a 94% increase in investment management fees, and successful completion of multifamily construction projects. The company also recycled capital from non-core asset sales to enhance core businesses and reduce leverage. The debt investment platform saw a 10% growth to $7.3 billion in Q1-24, with $719 million in new loans originated. Real estate activities included $94 million in acquisitions and $357 million in dispositions. The company's balance sheet showed strong liquidity and a quarterly dividend of $0.12 per share was declared. Kennedy Wilson also repurchased 1.1 million shares in Q1-24.
Kennedy Wilson and Haseko Acquire Two Multifamily Communities in Vancouver, Washington for $90 Million - A real estate fund managed by Kennedy Wilson has partnered with Haseko to acquire The Farmstead and Villas at 28th Street communities in Vancouver, Washington. The transaction totals 350 multifamily units purchased for $90 million. The communities contain diverse floor plans, secured gated access, fitness centers, dog parks, pickleball court, pet wash stations, natural green space, and walking trails, providing a comprehensive living experience. The companies aim to leverage their long-term experience in investing in multifamily units across the Pacific Northwest through institutional asset management practices. With an increased presence in the mainland U.S., the joint venture presents an opportunity for sustained growth, expansion, and commitment to diversification.