Commercial real estate company Kennedy Wilson recently released a statement showing that it has finalized a partnership with Fairfax Financial Holdings, worth approximately €250 million (USD$315.7 million).
This is the second partnership the two companies have taken part in, according to the report. The first was a commercial real estate investment deal in the United States worth approximately $278 million. The new partnership, which will exist mainly in the United Kingdom and Ireland, includes a €250 million commitment from Fairfax and has an additional 10 percent co-investment from Kennedy Wilson.
"Kennedy Wilson and its partners have completed $3.7 billion of deals in the UK and Ireland to date," said William McMorrow, chairman and chief executive officer of Kennedy Wilson. "We are excited to continue our relationship with Fairfax overseas and to pursue additional opportunities in Europe."
Kennedy Wilson is based in Beverly Hills, California, and has more than 20 offices around the world, including locations in the UK and Japan. It operates in many facets of the real estate industry, including sales, investment management and other related commercial real estate services.