Press Release July 03, 2018

Goodwin London Team Guides Kennedy Wilson in Formation of Joint Venture with AXA

Goodwin lawyers in London recently represented Kennedy Wilson Europe, in its joint venture agreement with AXA, pursuant to which AXA acquired a 50% interest in a KW portfolio of Irish PRS assets (Alliance, Clancy Quay and Sandford Lodge), comprising a total of 1,173 units.

The joint venture vehicle is an Irish collective asset-management vehicle, established in Ireland as an umbrella scheme with segregated liability between sub-funds, and KW will retain a 50% interest in the portfolio through the joint venture, and continue to asset manage the facilities.

Kennedy Wilson is a global real estate investment company focused on multifamily and office properties located in the Western U.S., U.K., and Ireland, and this deal is the latest chapter in Goodwin’s relationship with KW.

KW initially began investing in Europe in 2011, and in 2014 Goodwin represented KW in relation to their acquisition of 111 Buckingham Palace Road, London. The Goodwin team will also be representing KW in relation to the transfer of an additional three Irish PRS schemes into the AXA joint venture portfolio.

The Goodwin team was led by David Evans and James Spence, and included Melissa Wilkins, Lucy MacArthur, Samantha Lamontagne (Business Law) and Simon Woodcock (Real Estate).

For additional details on the joint venture, please read the press release.