Kennedy Wilson Europe Real Estate has completed its merger with Kennedy-Wilson Holdings, creating an $8bn real estate investment and asset management platform.
London-listed KWE’s portfolio of 207 assets across 11.4m sq ft is expected to produce more than $200m of annual NOI for KW. As a result, the company said it will increase its next quarterly dividend by 12% to $0.19.
The senior management team and all operations in the US and Europe will remain in place. KW has acted as the external asset manager for KWE since KWE’s IPO in 2014.
William J McMorrow, chairman and chief executive of KW, said: “This transformative combination with KWE represents an exciting new chapter for our company. We are moving towards a simplified corporate structure that provides more recurring income from stable property cash flows and greater upside potential from value-enhancing initiatives worldwide.”
Headquartered in Beverly Hills, KW has 27 offices in six countries. Since going public in 2009, the company and its partners have completed about $20bn in acquisitions.
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