Kennedy-Wilson Holdings Inc - KW STOCK NEWS

Kennedy Wilson (NYSE: KW) has completed the Ten Hanover Quay office development at Capital Dock, Dublin, signing a new 15-year lease with a global tenant. The property, encompassing 68,300 square feet across seven floors, is projected to yield over 6%. The redevelopment features sustainability credentials, including Gold certifications for LEED, WELL, and WiredScore. Kennedy Wilson, in collaboration with NAMA, transformed the historical site, enhancing its appeal with public amenities and community-focused spaces.

Kennedy Wilson (NYSE: KW) announced a significant expansion of its logistics platform, targeting an additional $1.5 billion in urban logistics properties across the UK, Ireland, and Spain. The company aims to increase its total asset target from $1 billion to $2.5 billion. Over the past 15 months, Kennedy Wilson has acquired over 80 last-mile distribution centers valued at approximately $1.4 billion. This growth is fueled by rising e-commerce demand for last-mile delivery capabilities, positioning Kennedy Wilson favorably for future investments.

Kennedy Wilson (NYSE: KW) has successfully expanded its real estate portfolio, acquiring three apartment communities for a total of $264 million, excluding closing costs. The properties include Central Park Commons in Meridian, Idaho, Paceline in Shoreline, Washington, and AYA ABQ in Albuquerque, New Mexico. With approximately 50% ownership, Kennedy Wilson invested $75 million and anticipates an initial annual net operating income of $11 million, including $6 million for itself. The company plans value-add management strategies, enhancing the properties to meet market demand.

Kennedy-Wilson Holdings (NYSE: KW) reported its Q4 and full-year 2021 results, highlighting a record financial performance. Q4 GAAP net income decreased to $37.5 million ($0.27 per share) from $170 million ($1.21 per share) YoY. However, adjusted EBITDA for FY-21 increased by 53% to $928 million. Total revenue for FY-21 was stable at $453.6 million. The company completed $5.9 billion in investment transactions in FY-21, enhancing estimated annual NOI by $40 million. A $300 million investment from Fairfax Financial is expected to support growth.

Fairfax Financial Holdings has announced a strategic $300 million preferred equity investment in Kennedy Wilson (NYSE:KW), aimed at funding its development pipeline and eliminating bank borrowings. Concurrently, Fairfax increased its first mortgage target in Kennedy Wilson’s debt investment platform from $3 billion to $5 billion. With $4 billion in additional investment capacity, Kennedy Wilson anticipates a 5% interest in future debt investments. Fairfax's stake in Kennedy Wilson now stands at approximately 9%, establishing a solid foundation for future growth.

Kennedy Wilson (NYSE: KW) announced a quarterly dividend of $0.24 per share for common shareholders of record as of March 31, 2022, with a payment date of April 7, 2022. This equates to an annual dividend of $0.96 per share. As a global real estate investment company, Kennedy Wilson focuses on multifamily and office properties across the Western U.S., U.K., and Ireland.

Kennedy Wilson (NYSE: KW) has acquired Waverleygate, a premier office building in Edinburgh, for $106 million, excluding closing costs. This property boasts a 97% occupancy rate with tenants like Amazon and Microsoft, generating $6 million in annual net operating income. The acquisition is seen as a strategic move to capitalize on growth opportunities in the UK office market. Waverleygate features modern amenities and excellent connectivity, including proximity to Waverley train station and the St James Quarter development.

Kennedy Wilson (NYSE: KW) plans to release its fourth quarter and full year 2021 financial results on February 23, 2022, after market close. A conference call and webcast to discuss the results will occur on February 24, 2022, at 9:00 a.m. PT / 12:00 p.m. ET. U.S. callers can dial (844) 340-4761, and international callers can reach +1 (412) 717-9616. A replay of the call will be available for one week after the live event. Kennedy Wilson focuses on real estate investments in the Western U.S., U.K., and Ireland.