KWE Buys Mixed-Use Portfolio For GBP144mn
News: Kennedy Wilson Europe Real Estate (KWE) has bought a mixed-use portfolio of 26 properties in the UK for about GBP144mn (US$239.71mn). KWE is a real estate investment fund of US-based property company Kennedy Wilson. The properties are in Scotland and England and are 13 industrial estates, seven office properties, five retail properties and one retail warehouse. The Artemis portfolio is part of KWE's seed portfolio and its acquisition was funded by the company's existing cash resources.
BMI View : The UK's real estate sector has continued to flourish, particularly in the office and retail segments, following the property crash and two years of negative economic growth, in 2008 and 2009.