International real estate investment and services firm Kennedy-Wilson Holdings and its institutional partners are acquiring a loan portfolio from Bank of Ireland (BOI). The buyers will pay a total of $1.8 billion for the acquisition.
Most of the debt portfolio assets are backed by high quality, London-based office, multifamily and retail properties. First part of the two-stage transaction, involving $1.4 billion, completed on October 21. The second stage, involving $400 million, is due to close by the end of November.
Click here for the release from Kennedy Wilson.