Kennedy Wilson Closes $1.4 Billion in Construction Loans in Q4 2024
Kennedy Wilson (NYSE: KW) has closed over $1.4 billion in senior construction loans during Q4 2024, contributing to a total of $3.5 billion in loan originations throughout 2024. The loans will support projects delivering over 12,000 multifamily and student housing units.
Key Q4 projects include a 1,688-bed student housing project near Purdue University, a 735-unit multifamily community in Los Angeles, and a 465-unit multifamily community in Jersey City. The company maintains a 2.5% average ownership in loans closed since Q3 2023 and earns management fees as asset manager.
The debt investment platform's total capital commitments now exceed $12 billion, with $3 billion of dry powder available. Kennedy Wilson manages over $28 billion of assets across the US, UK, and Ireland, with a focus on rental housing including over 60,000 multifamily and student housing units.
Kennedy Wilson (NYSE: KW) ha chiuso oltre $1,4 miliardi in prestiti di costruzione senior nel quarto trimestre del 2024, contribuendo a un totale di $3,5 miliardi in origini di prestiti durante il 2024. I prestiti supporteranno progetti che forniranno oltre 12.000 unità abitative multifamiliari e per studenti.
I principali progetti del Q4 includono un progetto da 1.688 posti letto per studenti vicino alla Purdue University, una comunità multifamiliare da 735 unità a Los Angeles e una comunità multifamiliare da 465 unità a Jersey City. L'azienda mantiene una partecipazione media del 2,5% nei prestiti chiusi dal terzo trimestre del 2023 e guadagna commissioni di gestione come gestore degli asset.
Gli impegni di capitale complessivi della piattaforma di investimento in debito ora superano $12 miliardi, con $3 miliardi di liquidità disponibile. Kennedy Wilson gestisce oltre $28 miliardi di attivi negli Stati Uniti, Regno Unito e Irlanda, con un focus sull'affitto di abitazioni, inclusi oltre 60.000 unità multifamiliari e per studenti.
Kennedy Wilson (NYSE: KW) ha cerrado más de $1.4 mil millones en préstamos de construcción senior durante el cuarto trimestre de 2024, contribuyendo a un total de $3.5 mil millones en originaciones de préstamos a lo largo de 2024. Los préstamos apoyarán proyectos que entregarán más de 12,000 unidades de vivienda multifamiliar y para estudiantes.
Los proyectos clave del cuarto trimestre incluyen un proyecto de vivienda estudiantil con 1,688 camas cerca de la Universidad de Purdue, una comunidad multifamiliar de 735 unidades en Los Ángeles y una comunidad multifamiliar de 465 unidades en Jersey City. La compañía mantiene una participación promedio del 2.5% en los préstamos cerrados desde el tercer trimestre de 2023 y gana tarifas de gestión como administrador de activos.
Los compromisos totales de capital de la plataforma de inversión de deuda ahora superan $12 mil millones, con $3 mil millones de capital disponible. Kennedy Wilson gestiona más de $28 mil millones en activos en EE. UU., Reino Unido e Irlanda, con un enfoque en vivienda de alquiler, incluidos más de 60,000 unidades multifamiliares y para estudiantes.
케네디 윌슨 (NYSE: KW)은 2024년 4분기 동안 14억 달러 이상의 선순위 건설 대출을 완료하여 2024년 전체 대출 원금 총 35억 달러에 기여하였습니다. 이 대출은 12,000개 이상의 다가구 및 학생 주택 유닛을 제공하는 프로젝트를 지원할 것입니다.
4분기의 주요 프로젝트로는 퍼듀 대학교 근처의 1,688인용 학생 주택 프로젝트, 로스앤젤레스의 735유닛 다가구 커뮤니티, 저지 시티의 465유닛 다가구 커뮤니티가 포함됩니다. 회사는 2023년 3분기 이후 완료된 대출에서 평균 2.5%의 소유권을 유지하며 자산 관리자로서 관리 수수료를 받습니다.
부채 투자 플랫폼의 총 자본 약정은 이제 120억 달러를 초과하며, 30억 달러의 자금이 준비되어 있습니다. 케네디 윌슨은 미국, 영국 및 아일랜드에서 280억 달러 이상의 자산을 관리하며, 60,000개 이상의 다가구 및 학생 주택 유닛을 포함한 임대 주택에 집중하고 있습니다.
Kennedy Wilson (NYSE: KW) a clôturé plus de 1,4 milliard de dollars en prêts de construction senior au cours du quatrième trimestre 2024, contribuant à un total de 3,5 milliards de dollars en origines de prêts tout au long de l'année 2024. Les prêts soutiendront des projets livrant plus de 12 000 unités de logements multifamiliaux et étudiants.
Les projets clés du Q4 incluent un projet de logement étudiant de 1 688 lits près de l'Université Purdue, une communauté multifamiliale de 735 unités à Los Angeles, et une communauté multifamiliale de 465 unités à Jersey City. L'entreprise maintient une participation moyenne de 2,5 % dans les prêts clôturés depuis le troisième trimestre 2023 et perçoit des frais de gestion en tant que gestionnaire d'actifs.
Les engagements de capital totaux de la plateforme d'investissement en dette dépassent désormais 12 milliards de dollars, avec 3 milliards de dollars de liquidités disponibles. Kennedy Wilson gère plus de 28 milliards de dollars d'actifs aux États-Unis, au Royaume-Uni et en Irlande, en mettant l'accent sur les logements locatifs, y compris plus de 60 000 unités de logements multifamiliaux et étudiants.
Kennedy Wilson (NYSE: KW) hat im vierten Quartal 2024 über 1,4 Milliarden Dollar an Senior-Baufinanzierungen abgeschlossen, was zu einer Gesamtzahl von 3,5 Milliarden Dollar an Kreditvergaben im Jahr 2024 beiträgt. Die Kredite unterstützen Projekte, die über 12.000 Mehrfamilien- und Studentenwohnungen bereitstellen werden.
Zu den wichtigsten Projekten im Q4 gehören ein Studentenwohnprojekt mit 1.688 Betten in der Nähe der Purdue University, eine Mehrfamiliengemeinschaft mit 735 Einheiten in Los Angeles und eine Mehrfamiliengemeinschaft mit 465 Einheiten in Jersey City. Das Unternehmen hält seit dem dritten Quartal 2023 einen durchschnittlichen Anteil von 2,5 % an den abgeschlossenen Krediten und verdient Verwaltungsgebühren als Vermögensverwalter.
Die gesamten Kapitalzusagen der Plattform für Schuldeninvestitionen übersteigen nun 12 Milliarden Dollar, mit 3 Milliarden Dollar an verfügbarem Kapital. Kennedy Wilson verwaltet über 28 Milliarden Dollar an Vermögenswerten in den USA, Großbritannien und Irland, mit einem Fokus auf Mietwohnungen, einschließlich über 60.000 Mehrfamilien- und Studentenwohnungen.
- Secured $1.4 billion in construction loans in Q4 2024
- Achieved $3.5 billion total loan originations in 2024
- Projects will deliver 12,000+ multifamily and student housing units
- $12 billion in total capital commitments
- $3 billion in dry powder available for future investments
- Maintains 2.5% ownership in loans since Q3 2023
- None.
Insights
Kennedy Wilson's Q4 2024 results demonstrate a strategic pivot that positions them as a major player in the rapidly expanding private credit market. The $1.4 billion in Q4 construction loans, contributing to $3.5 billion in total 2024 originations, represents a significant scaling of their debt platform.
The company's focus on multifamily and student housing projects in prime locations reveals a sophisticated risk management approach. These asset classes historically demonstrate resilience through market cycles and strong demand fundamentals. The 12,000 units in development across various projects provide a diversified portfolio that helps mitigate construction and market-specific risks.
Their business model combines three revenue streams:
- Management fees from their $12 billion capital commitment platform
- 2.5% average ownership in loans originated since Q3 2023
- Potential upside from their $3 billion dry powder deployment
The company's evolution from traditional real estate investment to credit solutions provider is particularly timely, as traditional lenders continue to restrict construction financing. This strategic positioning, combined with their emphasis on "intelligent underwriting and flexible solutions," suggests they're filling a important market gap while maintaining disciplined risk management.
The project portfolio reveals a sophisticated market selection strategy, particularly evident in the flagship developments:
- Purdue University adjacent student housing (1,688 beds) capitalizes on the growing demand for purpose-built student accommodation in top-tier educational markets
- Los Angeles multifamily development (735 units) targets one of the nation's most supply-constrained housing markets
- Jersey City project (465 units) leverages the continued expansion of the New York metro area's residential demand
The emphasis on premium amenities and strategic locations near retail and transportation hubs reflects a deep understanding of current market demands. These features are important differentiators in attracting and retaining tenants, particularly in the competitive multifamily and student housing sectors.
The company's ability to attract "top-tier institutional sponsors" suggests strong relationship capital and validates their underwriting standards. This sponsor quality typically translates to lower execution risk and stronger long-term performance of the underlying assets.
New Deals Contribute to
Highlights from the quarter include:
-
Senior Construction Loan for a 1,688-Bed Student Housing Project Adjacent to Purdue University in
West Lafayette, Indiana -
Senior Construction Loan for a 735-Unit Multifamily Community in
Los Angeles, California -
Senior Construction Loan for a 465-Unit Multifamily Community in
Jersey City, New Jersey
Currently in various stages of construction, the projects are set in prime locations adjacent to retail and transportation, and feature expansive amenity spaces, resort-style pools and spas, fitness centers, outdoor lounges and controlled garage access.
“We are pleased to end 2024 with such strong momentum, and to solidify our role as a major player in the construction loan space as private credit markets continue to expand rapidly. Our team has set itself apart this year through intelligent underwriting and flexible solutions, and our top-tier institutional sponsors appreciate the creativity we offer as they build some of the most innovative and complex multifamily and student housing projects across the country,” commented Thomas Whitesell, Head of the Debt Investment Group at Kennedy Wilson. “With the potential for higher transaction volume ahead, we are continuing to look for ways to grow our credit solutions at Kennedy Wilson.”
Total capital commitments across the platform’s various partners now exceed
About Kennedy Wilson
Kennedy Wilson (NYSE: KW) is a leading real estate investment company with over
Special Note Regarding Forward-Looking Statements
Statements in this press release that are not historical facts are “forward-looking statements” within the meaning of
KW-IR
View source version on businesswire.com: https://www.businesswire.com/news/home/20250210377693/en/
Investors
Daven Bhavsar, CFA
Head of Investor Relations
+1 (310) 887-3431
dbhavsar@kennedywilson.com
Media
Emily Heidt
Vice President, Communications
+1 (310) 887-3499
eheidt@kennedywilson.com
Source: Kennedy Wilson
FAQ
How much did Kennedy Wilson (KW) originate in construction loans in Q4 2024?
What is Kennedy Wilson's (KW) total loan origination value for 2024?
How many housing units will Kennedy Wilson's (KW) 2024 loans support?
What is Kennedy Wilson's (KW) ownership percentage in recent loans?
How much dry powder does Kennedy Wilson (KW) currently have available?
What is the total capital commitment across Kennedy Wilson's (KW) platform?
