26th Feb 2015 09:23
LONDON (Alliance News) - Kennedy Wilson Europe Real Estate PLC Thursday said its net asset value has risen 5.6% since its initial public offering in February last year, and it's set to generate attractive total returns in an environment where European interest rates are set to remain low for a prolongued period.
The investor in European real estate and real estate loans said its EPRA net asset value stood at GBP1.38 billion at the end of 2014, or 1,021.8 pence a share, a 5.6% increase from its net asset value of 968.0p a share at its February 2014 IPO.
"We believe the current European environment will lead to a prolonged period of low interest rates and profitable opportunities in our target markets where active asset management will generate attractive total returns. Our pan-European remit across multiple sectors means that we can leverage our platform across property cycles in different geographies as the path to recovery remains uneven across Europe," Chief Executive Mary Ricks said in a statement.
Kennedy Wilson Europe shares were up 0.2% at 1,096.00 pence Thursday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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