Landmark Dublin Hotel Brings $152M Debt Buy

DUBLIN, Ireland-Kennedy Wilson has completed the purchase of notes with an unpaid principal balance of approximately $310 million secured by the Shelbourne Hotel in Dublin. The company acquired the notes for $152 million. The purchase price consisted of $70 million of equity from the company and $82 million in bank financing.

“We were able to buy the debt on the Shelbourne at a significant discount to the unpaid principal balance in a complex transaction involving multiple sellers,” said Mary Ricks, president and CEO of Kennedy Wilson Europe. “The notes are secured by an iconic asset located in the heart of Dublin with significant value enhancement potential.”