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Kennedy-Wilson Holdings, Inc. (KW - Snapshot Report) acquired the 132,995 square foot grocery-anchored retail center – Victory Plaza – and the neighboring multifamily site spanning 2.4 acre in Los Angeles, Calif.

This retail center and the land were bought through debt purchase from an Irish financial institution for $30 million. This included investments of $12 million of equity in the deal with Pacific Western Bank offering $18 million of funding.

With a significant opportunity to add value, the acquisition is a strategic inclusion to Kennedy-Wilson’s U.S. retail platform. For a number of years, the property was under receivership and a number of its leases are substantially below market. Kennedy-Wilson’s U.S. retail platform now consists of 10 properties and 1.3 million square feet in the Western part of the nation.

Recently, Kennedy-Wilson along with its partners purchased a Class A office project in Pasadena, Calif. for $39 million. The move comes as the company makes effort to leverage on the growing economy in Pasadena. With encouraging market fundamentals and promising tech industry growth, Pasadena is emerging as a preferred office submarket in the Los Angeles County.

As a matter of fact, Kennedy Wilson is aiming for a solid platform through opportunistic acquisitions. As a result, the company and its partners acquired multifamily properties in Washington and Northern California in recent times. The company now boasts acquisitions of around $11.2 billion of real estate and real estate related debt since the start of 2010.

Some other stocks worth considering in the real estate operations industry include NorthStar Realty Finance Corp. (NRF - Snapshot Report), Henderson Land Development Co. Ltd. (HLDCY) and RE/MAX Holdings, Inc. (RMAX - Snapshot Report). While NorthStar Realty holds a Zacks Rank #1 (Strong Buy), Henderson Land Development and RE/MAX Holdings carry a Zacks Rank #2 (Buy).

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