Kennedy Wilson Acquires Bank of Ireland Real Estate Investment Management in €1.6 Billion Deal

Strategic Insights -

Kennedy Wilson, a leading international real estate investment and services firm, has made a significant move in the European market by acquiring Bank of Ireland Real Estate Investment Management (BOI REIM) in a €1.6 billion deal. This acquisition marks Kennedy Wilson's first purchase of an Irish and European business and will see the establishment of a new entity, Kennedy Wilson Europe, operating from Dublin and London. The deal adds €1.6 billion of real estate assets under management to Kennedy Wilson's existing USD $7.4 billion of investment assets, primarily in the United States and Japan.

Key Takeaways:

  • Kennedy Wilson has acquired Bank of Ireland Real Estate Investment Management (BOI REIM) in a €1.6 billion deal, marking its first purchase of an Irish and European business.
  • The acquisition will see the establishment of a new entity, Kennedy Wilson Europe, operating from Dublin and London.
  • The deal adds €1.6 billion of real estate assets under management to Kennedy Wilson's existing USD $7.4 billion of investment assets.
  • Peter Collins, managing director of BOI REIM, will head the new entity as managing director of Kennedy Wilson Europe.
  • Bank of Ireland will retain Kennedy Wilson Europe to continue managing its current portfolio.
  • The acquisition will provide Kennedy Wilson with access to additional international expertise and capital sources to develop its business in Europe.

Statistics:

  • €1.6 billion: The value of the acquisition deal.
  • USD $2.3 billion: The equivalent value of the acquisition deal in US dollars.
  • €1.6 billion: The value of real estate assets under management added to Kennedy Wilson's existing portfolio.
  • USD $7.4 billion: The value of Kennedy Wilson's existing investment assets.
  • Ireland: The primary location for Kennedy Wilson's new European operations.
  • London: The second location for Kennedy Wilson's European operations.
  • July 2011: The reported month of the acquisition, as stated in the original article.

Sources:

  • China Weekly News editors. (2011). Kennedy Wilson Acquires BOI REIM. Retrieved from VerticalNews.com.