While today's turbulent market conditions have led some investors to put on the brakes, that's not the case with international real estate investment and services firm ""Kennedy Wilson"":http://www.kennedywilson.com.[IMAGE]
The company, headquartered in Beverly Hills, California, hasn't pulled back on its aggressive acquisition strategy and is leveraging its relationships to secure prime deals for both notes and property. Within the past year, Kennedy Wilson has acquired over 1,600 residential units and over 60 loans secured by real estate.
The company's note purchases within just the last five months total over $510 million. The most recent involved the acquisition of a $41 million loan portfolio from a large regional bank. The transaction terms included seller financing and a profit sharing agreement between Kennedy Wilson and the selling bank.
""This acquisition is another example of our ability to find creative ways to help banks sell their loans and to execute deals in a short time frame,"" said Mary Ricks, CEO of[COLUMN_BREAK]
Kennedy Wilson's Commercial Investment Group. ""We negotiated the deal directly with the seller and were able to complete the transaction in just five weeks.""
The firm also recently announced its acquisition of a large Northern California apartment community, which brings the company's total investments for a one-week period to over $110 million. Kennedy Wilson purchased a 100 percent equity interest in the property and assumed the existing financing.
Robert Hart, president and CEO of Kennedy Wilson Multifamily, commented, ""This project exemplifies our ability to leverage our services platform to source deals through our long standing relationships with principals and lenders. We were asset and construction managers of the property and with this acquisition, remain committed to the project.""
Kennedy Wilson served as the construction and asset manager of the 600-plus unit property, which was fully renovated in 2008 and is currently 95 percent leased.
Chairman and CEO of Kennedy Wilson William McMorrow added, ""This transaction represents the company's current focus on acquisitions and speaks for the strength of our platform. As a vertically integrated real estate investment and services company, we have the resources and network to take advantage of opportunities in virtually any sector of real estate.""
Founded in 1977, ""Kennedy Wilson's"":http://www.kennedywilson.com real estate services include property and asset management, brokerage and auction services, and construction and trust management. Through its fund management and separate account businesses, the firm is also an investor and manager of real estate assets in the United States and Japan.