KENNEDY WILSON EUROPE REAL ESTATE PLC

Completion of the acquisition of certain subordinated loans secured by the Fordgate Jupiter Portfolio

Kennedy Wilson Europe Real Estate Plc (the "Company" or "KWE") is pleased to announce that it has completed the acquisition of certain subordinated loans (the "B1/B2/B3 loans") secured by the Fordgate Jupiter Portfolio. The acquisition was funded through the Company's cash resources.

The Fordgate Jupiter Portfolio is a mixed use portfolio and comprises 21 properties located in England and Scotland, consisting of a mix of office, car showroom, leisure, retail and distribution properties. The portfolio comprises a majority of high quality institutional assets, with strong tenant and investor demand and good individual asset liquidity. The B1/B2/B3 loans have an unpaid principal balance of c. £119 million and were purchased by the Company at a discount.  These loans are subordinate to a c. £258 million securitization (as at 23 January 2014). 

In addition to this loan acquisition, KWE has investments in two portfolios of properties, comprising in aggregate 40 office, industrial and retail properties of approximately 2.6 million square feet in aggregate, located across the UK.

Mary Ricks, a non-executive director on the board of the Company, commented on the completion of this loan acquisition: "This acquisition demonstrates the Company's unique ability to source real estate-related investment opportunities and enhances its footprint across various asset classes."   

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Contact

Administrator and Company Secretary to the Company
Andrew McNulty
Ben Durbano
Crestbridge Fund Administrators Limited
+44 (0) 1534 835 600

About Kennedy Wilson Europe Real Estate plc

Kennedy Wilson Europe Real Estate Plc is an LSE listed closed ended investment fund that invests primarily in real estate and real estate loans in Europe, initially in the UK, Ireland and Spain, and other European countries on an opportunistic basis. The company's primary objectives are to generate and grow long-term cash flows to pay dividends and to enhance capital values by way of focused asset management and strategic acquisitions, with the intention of creating value for shareholders. For further information on Kennedy Wilson Europe Real Estate Plc, please visit www.kennedywilsoneuropeplc.com.