Kennedy Wilson and AXA IM Alts Complete $510 Million Refinancing of Irish Apartment Portfolio
Kennedy Wilson (NYSE:KW) and AXA IM Alts have successfully completed a $510 million refinancing of maturing debt secured against five stabilized apartment assets in Dublin and Cork, Ireland. The five-year facility was secured from Wells Fargo and Deutsche Bank at competitive terms.
The refinanced portfolio includes 1,689 units across properties like Clancy Quay, Sandford Lodge, the Alliance, Grange East, and the Elysian, representing nearly half of the joint venture's total 3,500 rental units. The assets maintain a remarkable 99.5% occupancy rate and are located in prime city center and suburban locations.
The refinancing process attracted strong interest from over 30 potential lenders, including local and international banks, insurers, and debt funds, demonstrating confidence in Ireland's apartment market where Kennedy Wilson has invested since 2012.
Kennedy Wilson (NYSE:KW) e AXA IM Alts hanno completato con successo un rifinanziamento di 510 milioni di dollari per il debito in scadenza garantito da cinque immobili residenziali stabilizzati a Dublino e Cork, Irlanda. La struttura di cinque anni è stata ottenuta da Wells Fargo e Deutsche Bank a condizioni competitive.
Il portafoglio rifinanziato include 1.689 unità in proprietà come Clancy Quay, Sandford Lodge, l'Alliance, Grange East e l'Elysian, rappresentando quasi la metà delle 3.500 unità in affitto della joint venture. Gli immobili mantengono un tasso di occupazione del 99,5% e sono situati in posizioni centrali e suburbane di prestigio.
Il processo di rifinanziamento ha attratto un forte interesse da oltre 30 potenziali finanziatori, tra cui banche locali e internazionali, assicuratori e fondi di debito, dimostrando fiducia nel mercato degli appartamenti in Irlanda, dove Kennedy Wilson ha investito dal 2012.
Kennedy Wilson (NYSE:KW) y AXA IM Alts han completado con éxito un refinanciamiento de 510 millones de dólares de la deuda que vence, asegurada contra cinco activos de apartamentos estabilizados en Dublín y Cork, Irlanda. La facilidad de cinco años fue asegurada de Wells Fargo y Deutsche Bank en condiciones competitivas.
El portafolio refinanciado incluye 1,689 unidades en propiedades como Clancy Quay, Sandford Lodge, la Alliance, Grange East y el Elysian, representando casi la mitad de las 3,500 unidades de alquiler de la empresa conjunta. Los activos mantienen una notable tasa de ocupación del 99.5% y están ubicados en zonas céntricas y suburbanas privilegiadas.
El proceso de refinanciamiento atrajo un gran interés de más de 30 prestamistas potenciales, incluyendo bancos locales e internacionales, aseguradoras y fondos de deuda, demostrando confianza en el mercado de apartamentos de Irlanda, donde Kennedy Wilson ha invertido desde 2012.
케네디 윌슨 (NYSE:KW)과 AXA IM Alts는 아일랜드 더블린과 코크에 있는 다섯 개의 안정된 아파트 자산에 대해 만기가 도래하는 부채의 5억 1천만 달러의 재융자를 성공적으로 완료했습니다. 이 5년 만기 대출은 웰스 파고 및 도이치 은행으로부터 경쟁력 있는 조건으로 확보되었습니다.
재융자된 포트폴리오는 Clancy Quay, Sandford Lodge, Alliance, Grange East 및 Elysian과 같은 부동산에 걸쳐 1,689개 유닛을 포함하며, 이는 합작 투자 총 3,500개 임대 유닛의 거의 절반을 차지합니다. 자산들은 99.5%의 놀라운 점유율을 유지하며 주요 도심 및 교외 지역에 위치하고 있습니다.
재융자 과정에서는 30개 이상의 잠재 대출자들로부터 강한 관심을 끌었으며, 여기에는 지역 및 국제 은행, 보험사, 채무 기금이 포함되어 아일랜드의 아파트 시장에 대한 신뢰를 보여주었습니다. 케네디 윌슨은 2012년부터 이 시장에 투자해왔습니다.
Kennedy Wilson (NYSE:KW) et AXA IM Alts ont réussi à finaliser un refinancement de 510 millions de dollars pour des dettes arrivant à échéance, garanties par cinq actifs d'appartements stabilisés à Dublin et Cork, en Irlande. La facilité de cinq ans a été obtenue auprès de Wells Fargo et de Deutsche Bank à des conditions compétitives.
Le portefeuille refinancé comprend 1.689 unités dans des propriétés telles que Clancy Quay, Sandford Lodge, l'Alliance, Grange East et l'Elysian, représentant près de la moitié des 3.500 unités locatives de la coentreprise. Les actifs affichent un taux d'occupation de 99,5% remarquable et sont situés dans des emplacements centraux et suburbains privilégiés.
Le processus de refinancement a suscité un vif intérêt de la part de plus de 30 prêteurs potentiels, y compris des banques locales et internationales, des assureurs et des fonds de dette, démontrant la confiance dans le marché des appartements en Irlande, où Kennedy Wilson a investi depuis 2012.
Kennedy Wilson (NYSE:KW) und AXA IM Alts haben erfolgreich eine Refinanzierung in Höhe von 510 Millionen Dollar für fällige Schulden abgeschlossen, die durch fünf stabilisierte Wohnanlagen in Dublin und Cork, Irland, gesichert ist. Die fünfjährige Finanzierung wurde zu wettbewerbsfähigen Konditionen von Wells Fargo und Deutsche Bank gesichert.
Das refinanzierte Portfolio umfasst 1.689 Einheiten in Immobilien wie Clancy Quay, Sandford Lodge, die Alliance, Grange East und das Elysian, was fast die Hälfte der insgesamt 3.500 Mietwohnungen des Joint Ventures ausmacht. Die Immobilien weisen eine bemerkenswerte Belegungsquote von 99,5% auf und befinden sich in erstklassigen Innenstadt- und Vorstadtlagen.
Der Refinanzierungsprozess zog großes Interesse von über 30 potenziellen Kreditgebern an, darunter lokale und internationale Banken, Versicherungen und Schuldenfonds, was das Vertrauen in den Wohnungsmarkt in Irland zeigt, in den Kennedy Wilson seit 2012 investiert.
- Successfully secured $510M refinancing at competitive terms
- Exceptional 99.5% occupancy rate across portfolio
- Strong lender interest with over 30 potential lenders
- Addresses large 2025 debt maturity
- None.
Insights
Kennedy Wilson's successful
The transaction's most telling aspect was the robust interest from over 30 potential lenders spanning banks, insurers, and debt funds. This exceptional depth of lender appetite signals strong institutional confidence in both the underlying asset quality and Kennedy Wilson's operational capabilities. While specific terms weren't disclosed, the company's characterization of the terms as "competitive" likely indicates favorable pricing relative to current market conditions.
This refinancing covers approximately half of the JV's
This refinancing validates Kennedy Wilson's long-term investment thesis in the Irish apartment market, where they've been strategically positioned since 2012. The portfolio's
The refinanced assets represent premium multifamily communities in Ireland, anchored by Clancy Quay's 877 units spanning 14 acres - one of Ireland's largest rental communities. Kennedy Wilson's vertically integrated approach, including their construction management capabilities that delivered several of these assets, has created institutional-quality properties that command strong lender confidence.
What's particularly noteworthy is the geographic diversification within Ireland, spanning both Dublin and Cork, while maintaining a focus on high-barrier-to-entry locations. This strategic positioning in supply-constrained markets explains the portfolio's exceptional performance. The strong lender interest demonstrates that institutional capital views Irish multifamily as a defensive asset class despite broader European economic uncertainties.
This transaction reinforces the maturation of Ireland's purpose-built rental sector, which Kennedy Wilson helped pioneer. Their continued commitment to the market through this refinancing suggests they maintain a positive long-term outlook on Irish rental fundamentals, which appears justified by the operational performance of these assets.
Successful refinancing evidences strength of underlying apartment market in
A
Several of these communities were designed and built by Kennedy Wilson’s construction management team, including Clancy Quay, which at 877 units across 14 acres, is one of the single largest multifamily communities in
Mike Pegler, President of Kennedy Wilson Europe, said: “This refinancing process satisfied a large 2025 maturity for Kennedy Wilson and generated extremely strong market interest. We secured competitive terms from a diverse pool of over 30 potential lenders, including both local and international banks, insurers and debt funds. This is a testament to the quality of this portfolio as well as the underlying strength of the apartment market in
Nicola Free, head of Commercial Real Estate EMEA for Wells Fargo, said: “Wells Fargo is delighted to complete this transaction and support Kennedy Wilson and AXA as they continue to provide high quality residential real estate in
Alexander Krämer, Head of Commercial Real Estate Europe at Deutsche Bank, said: “We are very pleased to have successfully completed this important transaction, in continuation of our very strong relationship with Kennedy Wilson and AXA, and also as a reflection of our flexible financing capabilities across all commercial real estate asset classes.”
About Kennedy Wilson
Kennedy Wilson (NYSE: KW) is a leading real estate investment company with over
KW-IR
View source version on businesswire.com: https://www.businesswire.com/news/home/20250414440700/en/
Kennedy Wilson
Investors
Daven Bhavsar, CFA
Head of Investor Relations
+1 (310) 887-3431
dbhavsar@kennedywilson.com
Irish Media
Sam Moore / Niamh O’Brien
+353 87 737 9089 / +353 87 707 8379
KennedyWilsonIrl@fticonsulting.com
European Media
Dido Laurimore / Eve Kirmatzis
+44 20 3727 1000
kennedywilson@fticonsulting.com
Emily Heidt
Managing Director, Communications
+1 (310) 887-3499
eheidt@kennedywilson.com
Source: Kennedy Wilson
FAQ
What is the size and term of Kennedy Wilson's (KW) recent refinancing deal in Ireland?
How many rental units are included in KW's refinanced Irish portfolio?
What is the current occupancy rate of KW's refinanced Irish properties?
How many lenders showed interest in KW's Irish portfolio refinancing?
