31st Jul 2014 13:03
LONDON (Alliance News) - Kennedy Wilson Europe Real Estate PLC Thursday said it has agreed to acquire the Elliott loan portfolio secured by assets in Ireland, and the Marshes Shopping Centre in Dundalk, Ireland, for a combined fee of EUR120 million.
Kennedy Wilson said it has entered into an agreement with Ulster Bank Ireland Ltd to acquire the Elliott loan portfolio secured against a portfolio of 13 real estate assets, consisting mainly of offices, industrial, retail and residential properties for EUR75 million. These assets form part of RBS Capital Resolution, the company said.
The closed-ended investment fund also said it has entered into another agreement with Marshes Shopping Centre Ltd to acquire Marshes Shopping Centre in Dundalk, Ireland for EUR44.5 million.
The shopping centre consists of 39 retail units and a food court and is current 93% to mutiple retailers including River Island.
The acquisition is expected to complete at the end of August.
Kennedy Wilson shares were quoted up 0.3% at 1,055.00 pence Thursday afternoon.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Kennedy Wilson Europe Real Estate