Overview
Kennedy Wilson Europe Real Estate is a closed-ended collective investment fund that invests primarily in real estate and real estate loans in Europe with the objective of generating and growing long-term cash flows to pay dividends and to enhance capital values by way of focused asset management and strategic acquisitions.
Research History
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18 Jan 2018 2 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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16 May 2017 2 min read
QuotedData investment companies roundup – May 2017
QuotedData investment companies roundup: Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2017. Kindly sponsored by Baillie Gifford. Money in: The only new launch in April was EJF Investments, a £69m fund trying to take advantage of […]
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15 Mar 2017 1 min read
QuotedData’s round up of views on the global economy – March 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
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07 Dec 2016 1 min read
QuotedData investment companies roundup – December 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2016. december-investment-companies-roundup
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
News
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09 May 2017 1 min read
Investment Trust Insider on TR Property
Many investors have a bias against funds of funds because they charge management fees on top of the fees being paid to the managers of the funds in their portfolios. Often though, these funds do produce decent performance. One listed fund of funds exemplifies this situation – TR Property (TRY) managed by Marcus Phayre-Mudge only […]
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24 Apr 2017 3 min read
Kennedy Wilson Europe to merge with Kennedy Wilson Holdings
The Kennedy Wilson Holdings Board (KW) and the Independent Committee of Kennedy Wilson Europe (KWE) are pleased to announce that they have reached agreement on the terms of a recommended all-share merger. Eeach KWE Scheme Shareholder will be entitled to receive: 0.667 New KW shares for each KWE share. Based on the closing price of US$22.50 per […]
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15 Nov 2016 1 min read
UIL, Industrial Multi Property Third Quarter Winners – QuotedData
LONDON (Alliance News) – The best performer in both price and net asset value terms in the third quarter was UIL Ltd, boosted by its largest investment, Australian-listed Resolute Mining Ltd, which benefited from a strong gold price. Industrial Multi Property Trust PLC and Kubera-Cross Border Fund Ltd both saw recoveries in their share price […]
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28 Sep 2016 1 min read
Kennedy Wilson Europe Real Estate launches £100m share buyback programme
Kennedy Wilson Europe Real Estate has announced that it is launching a share buyback programme. The company says that the programme will involve the immediate launch of on-market purchases of ordinary shares in the Company, for a maximum aggregate purchase price of £100 million, and shares bought back under the programme will be cancelled. The […]
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05 May 2016 2 min read
Kennedy Wilson expands portfolio
Kennedy Wilson Europe Real Estate has completed the acquisitions of two suburban office assets in Sandyford and Blackrock in South Dublin for an aggregate consideration of EUR76.9 million (GBP60.8 million) and Towers Business Park in Manchester for GBP82 million. The acquisitions will be funded from the Company’s existing cash resources. KWE completed the acquisition of […]
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26 Feb 2016 2 min read
Kennedy Wilson Europe had a busy and profitable year
Kennedy Wilson Europe’s results for the year ended 31 December 2015 show its adjusted NAV climbing from 1025.2p to 1174.5p over the year. Adjusted EPS rose sharply from 25.9p to 47.9p as the portfolio became more established and the effects of gearing kicked in. They paid dividends of 35p during the year and have announced […]
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21 Jan 2016 1 min read
Kennedy Wilson Europe Real Estate sells Avon Loan portfolio for £100.3m
Kennedy Wilson Europe Real Estate has announced that it has completed the sale of the Avon Loan Portfolio for £100.3m. The sale is to a UK infrastructure fund and reflects an exit yield of 6.5%. Net cash proceeds amount to £99.1m. The Avon loan portfolio was acquired on June 2014 for £93.5m, reflecting a yield […]
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06 Nov 2015 1 min read
Kennedy Wilson Europe issues €300m bond, part of £2bn programme
Kennedy Wilson Europe is offering €300m of 3.25% senior unsecured notes due 2025 as the first part of a £2bn programme of bond issuance announced yesterday. The Euro Medium Term Note Programme allows Kennedy Wilson Europe to issue, from time to time, up to £2,000,000,000 of various types of debt securities in certain markets and currencies. Kennedy […]
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29 Oct 2015 2 min read
Kennedy Wilson Europe buys Italian office portfolio
Kennedy Wilson Europe Real Estate has conditionally acquired a portfolio of nine offices in Italy fully let to the Italian government. The portfolio is being acquired from InvestiRE SGR, as the management company of the closed-end mutual property investment fund known as Fondo Immobili Pubblici (“FIP”). The portfolio net purchase price is EUR185.5 million, reflecting […]
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17 Aug 2015 2 min read
Kennedy Wilson Europe buys Spanish supermarkets
Kennedy Wilson Europe has bought a portfolio of 16 Spanish supermarkets. The portfolio, which comprises 11 Carrefour supermarkets and five Dia supermarkets, was acquired from a joint venture between French institutional investors managed by AEW Europe. The purchase price of the portfolio was €85.5m, reflecting a yield on cost of 6.9%. The acquisition was funded […]
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06 Aug 2015 2 min read
Kennedy Wilson Europe Real Estate announces 25% increase in quarterly dividend
Kennedy Wilson Real Estate Europe, in releasing its interim results for half year ended 30 June 2015, have announced that the quarterly dividend is increasing by 25%, over the previous quarter, to 10p per share. The company say that this will be 40p per share annualised, which the board advise is a sustainable dividend level […]
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28 Jul 2015 1 min read
Kennedy Wilson buys nine offices for £211m
Kennedy Wilson Europe says it has completed the acquisition of nine south east offices from an entity affiliated with Apollo Global Management LLC. The underlying real estate is valued at £211m at completion, reflecting a yield on cost of 8.0%. The corporate acquisition was funded from the Company’s cash resources. Area Location sq ft Tenant (%) […]
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01 Jul 2015 1 min read
Kennedy Wilson Europe issues £300m bond
Kennedy Wilson Europe has issued £300m of bonds. These have been rated BBB. The bonds, which are unsecured, have an annual fixed coupon to the Company of 3.95%, which was effectively reduced to 3.35% as a result of KWE entering into swap arrangements to convert 50% of the proceeds into Euros. Interest on the Unsecured Bonds is […]
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14 May 2015 2 min read
Kennedy Wilson buys in Plaza Puerto del Sol
Kennedy Wilson Europe is paying €30m for Puerta del Sol 9, a high street property in the iconic Plaza Puerta del Sol in Madrid. Plaza Puerta del Sol is a landmark location in the heart of Madrid’s city centre offering a wide range of restaurants, shops, cultural sights and attractions. Recently, the plaza benefitted from […]
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05 May 2015 1 min read
Kennedy Wilson buys Pioneer Point debt
Kennedy Wilson Europe has paid £68.5m to acquire a loan secured against the freehold interest in Pioneer Point, Ilford. The loan is non-performing and the unpaid principal balance of the loan is £149m. Kennedy Wilson reckon that the purchase price of the loan is materially below the replacement cost of the property. Pioneer Point is […]
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26 Feb 2015 1 min read
Kennedy Wilson Europe spends £1.5bn in ten months
Kennedy Wilson Europe has published its first set of accounts covering the period from its launch until the end of December 2014. They raised £1,315m of equity during the period. The EPRA NAV at the end of the period was £1,382m or £10.27 per share. They had properties in the portfolio valued at £1,489m and […]
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19 Feb 2015 1 min read
Kennedy Wilson Europe buys Park Inn hotels
Kennedy Wilson Europe Real Estate has recently completed the acquisition of eight loans secured by first ranking mortgages over eight Park Inn hotels across the UK from two financial institutions. The purchase price for the loans is £61.5m reflecting a gross yield on cost of 9.3%. The acquisition will be funded from the Company’s cash resources. […]
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12 Feb 2015 1 min read
Kennedy Wilson buys Dublin offices
Kennedy Wilson Europe Real Estate is effectively paying €45m to acquire Gardner House, Wilton Street, Dublin. They had exposure to this asset beforehand in the form of two loans secured by a mortgage over the property. They have agreed with the borrower that the fund will take title to the property in exchange for the forgiveness of […]
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22 Dec 2014 2 min read
Kennedy Wilson buys 180 properties for £503m
Kennedy Wilson Europe is spending £503m to acquire a portfolio of 180 mixed use properties all of which are in receivership and all of which were financed by Aviva Commercial Real Estate Finance. the money is coming in part from KWE’s cash resources and part from a £352.3m secured facility provided by Aviva Commercial Real […]
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26 Nov 2014 4 min read
The big new trust betting property party isn’t over
The big new trust betting property party isn’t over Source: http://citywire.co.uk/money/the-big-new-trust-betting-property-party-isnt-over/a785658?ref=james-carthew KWE, 2014’s biggest investment trust launch, is betting that Europe’s property market still has further to recover from credit crunch lows. In many ways, 2014 has been a bumper year for investment trusts, and money keeps on flooding in. Excluding Pershing Sqaure (PSH.AS) because it is […]
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11 Nov 2014 1 min read
Kennedy Wilson Europe buys in Buckingham Palace Road
KWE : Kennedy Wilson Europe buys in Buckingham Palace Road Kennedy Wilson Europe says it has bought the company that owns 111 Buckingham Palace Road, Victoria SW1 for £207.5m, which equates to a yield of 5.1%. 111 Buckingham Palace Road is a 227,165 sq ft landmark, Grade A London office building. It is fully occupied with a […]
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21 Oct 2014 1 min read
Kennedy Wilson gets the £350m it was looking for
KWE : Kennedy Wilson gets the £350m it was looking for Kennedy Wilson Europe, which was looking to raise £351.5m from a placing and open offer announced earlier in the month, says it got all the money it was after – shareholders took up 76% of the open offer shares and the balance came from the […]
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06 Oct 2014 1 min read
Kennedy Wilson raising £350m
KWE : Kennedy Wilson raising £350m Kennedy Wilson Europe Real Estate is aiming to raise £350m from investors. £100m of this has been raised already via a firm placing to a group of investors including Kennedy Wilson, Marketfield Asset Management, Quantum Strategic Partners and Wellington Management Company (all of which are considered related parties for the […]
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18 Aug 2014 1 min read
Kennedy Wilson Europe Real Estate Acquiring Fairmount Hotel, St. Andrews, for £32.4m
KWE : Kennedy Wilson Europe Real Estate Acquiring Fairmount Hotel, St. Andrews, for £32.4m Kennedy Wilson Europe Real Estate has announced that it is to acquire the Fairmount Hotel, St. Andrew’s, Scotland (pictured) for £32.4m. The iconic property is managed and operated by Fairmont Hotels and Resorts under an agreement that lasts until 2031. The transaction […]
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07 Aug 2014 1 min read
Kennedy Wilson Europe buys exposure to 99 assets in four months
KWE : Kennedy Wilson Europe buys exposure to 99 assets in four months – and keeps going Kennedy Wilson Europe has published its first set of figures since listing late in February 2014 (the second largest real estate IPO on the LSE ever). They show that by the end of June 2014 it had spent […]
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09 May 2014 1 min read
Kennedy Wilson Europe Real Estate : KWE – acquisitions
Kennedy Wilson Europe Real Estate is buying a portfolio of residential and commercial properties (the Central Park portfolio) in Sandyford, Dublin for €88m and another portfolio (the Opera portfolio) of seven offices and six retail properties – mostly in Dublin but with one asset in Cork for €391m. The Central park portfolio comprises 272 residential units and 31,000 […]
