Kennedy Wilson, a global real estate investment and asset management company, today announced that it has acquired the first tranche of a $5.7 billion loan portfolio from Pacific Western Bank (PacWest). The first tranche, which totals $1.6 billion, includes loans secured by commercial real estate assets located throughout the United States.
The acquisition of the first tranche of loans is part of Kennedy Wilson's strategy to grow its commercial real estate lending business. The company plans to use the acquired loans to make new investments in commercial real estate, including debt and equity investments.
“We are pleased to announce the acquisition of the first tranche of loans from PacWest,” said Conor Murphy, Chief Executive Officer of Kennedy Wilson. “This acquisition is a significant milestone for our commercial real estate lending business and aligns with our strategy to grow our presence in the U.S. commercial real estate market.”
Kennedy Wilson is a global real estate investment and asset management company with approximately $22 billion in assets under management. The company has a long history of investing in and managing commercial real estate assets throughout the United States, Europe, and Asia.
PacWest is a leading regional bank with approximately $35 billion in assets. The bank provides a variety of banking products and services to businesses, individuals, and other financial institutions.
The acquisition of the first tranche of loans from PacWest is a significant transaction for Kennedy Wilson. The deal will help the company grow its commercial real estate lending business and expand its presence in the U.S. commercial real estate market.