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KW, European Ops Complete Merger

Kennedy Wilson chairman William J. McMorrow says his company is moving toward “a simplified corporate structure” with more recurring income from stable property cash flows and greater upside potential from value-enhancing initiatives worldwide.

Photo of William McMorrow McMorrow says the merger represents “an exciting new chapter” for Kennedy Wilson.

BEVERLY HILLS, CA—Kennedy-Wilson Holdings said Friday it had completed its merger with Kennedy Wilson Europe Real Estate plc. First announced this past April, the combination creates an investment and asset management platform with an enterprise value of $8 billion.

“We are moving towards a simplified corporate structure that provides more recurring income from stable property cash flows and greater upside potential from value-enhancing initiatives worldwide,” says William J. McMorrow, KW’s chairman and CEO, who adds that the merger represents “an exciting new chapter” for the company. The KWE platform adds 207 assets across 11.4 million square feet to KW’s portfolio, and is expected to generate $200 million in NOI annually.

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Paul Bubny

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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