Kennedy Wilson Completes Construction of Three Multifamily Developments in Ireland Totaling 800 Units

Rhea-AI Summary

Kennedy Wilson completes three major residential developments in Dublin, adding 800 units to their multifamily portfolio.

Positive

• Kennedy Wilson expands their Irish multifamily portfolio by approximately 800 units.
• The completion of Coopers Cross, The Grange, and Sanford Lodge marks the beginning of these communities' growth in the region.

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• None.

Coopers Cross, The Grange, and Sandford Lodge build on growing portfolio of sustainable, amenity driven communities in Dublin

BEVERLY HILLS, Calif.--(BUSINESS WIRE)-- Global real estate investment company Kennedy Wilson (NYSE: KW) has completed three major residential developments in Dublin, Ireland – Coopers Cross, The Grange, and Sanford Lodge – that have added approximately 800 units to Kennedy Wilson’s Irish multifamily portfolio, which now totals over 3,300 units with another 232 units under development.

Coopers Cross (Photo: Business Wire)

“As many of our global developments quickly near completion, we are proud to deliver on our promise to bring much-needed residential space and public amenities to Dublin and continue our legacy as one of Ireland’s most active real estate investors and operators,” said William McMorrow, Chairman and CEO of Kennedy Wilson. “We are long-time believers in this vibrant market, and these development milestones mark just the beginning for these communities that continue to raise the bar for residential offerings within the region.”

Encompassing nearly an entire city block in Dublin’s North Docks, the six-acre Coopers Cross mixed-use development is revitalizing one of the largest undeveloped sites in Dublin’s Docklands, forming part of the Strategic Development Zone designed to facilitate the regeneration of the area. The recently completed residential phase includes 471 apartments, and resident amenity and retail space anchored by a new public park in the North Docks.

A significant focus has been put on placemaking within Coopers Cross, where the residences are connected to future Grade A office space with market-leading ESG credentials via a sequence of permeable courtyards and thoroughfares. A generous public square and accessible multi-functional Town Hall space also connects the office space and retail through a garden street to provide a further public amenity for residents, future office occupiers, and visitors to the campus.

Expected to complete by the end of 2023, the 395,000 square feet of new office space at Coopers Cross is designed for maximum efficiency and flexibility with bright, open floorplates, and is targeting world-leading sustainability credentials, including targeted LEED and WELL Platinum, and BREEAM Outstanding. Coopers Cross was the first commercial development in Ireland to achieve a Platinum SmartScore certification, which is awarded to projects demonstrating exceptional intelligent building credentials.

At The Grange, Kennedy Wilson recently delivered 287 new apartments, resident amenity space, and a dedicated day care center, bringing the company’s total holding at the Stillorgan project to 539 units. This summer also marked a finish line for an expansion for Sanford Lodge Apartments, where 36 new apartment and duplex units with generous private open space are now available for lease just 2.5 kilometers from St Stephen’s Green. All new residential projects offer Kennedy Wilson’s dedicated resident app, professional on-site management, as well as pet-friendly units. The developments also feature roof terraces, parks, children’s playgrounds, fitness centers, business centers, game rooms and resident lounges.

In addition to its developments in Ireland, Kennedy Wilson has an active pipeline of $1 billion in gross developments across the Western U.S., totaling over 2,800 apartment units. The majority of these projects remain on track to be completed by the end of 2024.

About Kennedy Wilson

Kennedy Wilson (NYSE:KW) is a leading global real estate investment company. The company owns, operates, and invests in real estate through the balance sheet and through an investment management platform across the Western United States, United Kingdom, and Ireland. Kennedy Wilson primarily focuses on multifamily and office properties as well as industrial and debt investments in the investment management business. For more information on Kennedy Wilson, please visit: www.kennedywilson.com.

KW-IR

Special Note Regarding Forward-Looking Statements

Statements in this press release that are not historical facts are “forward-looking statements” within the meaning of U.S. federal securities laws. These forward-looking statements are estimates that reflect our management’s current expectations, are based on our current estimates, expectations, forecasts, projections and assumptions that may prove to be inaccurate and involve known and unknown risks. Accordingly, our actual results, performance or achievement, or industry results, may differ materially and adversely from the results, performance or achievement, or industry results, expressed or implied by these forward-looking statements, including for reasons that are beyond our control. Some of the forward-looking statements may be identified by words like “believes”, “expects”, “anticipates”, “estimates”, “plans”, “intends”, “projects”, “indicates”, “could”, “may” and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. We assume no duty to update the forward-looking statements, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230911906154/en/

Investors

Daven Bhavsar, CFA

Vice President 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