Kennedy Wilson Acquires First Tranche Of $5.7B Loan Portfolio From Pacific Western Bank; First Tranche Of Loans Was Acquired For $1.6B
Portfolio Pulse from Benzinga Newsdesk
Kennedy Wilson (KW) has acquired the first tranche of a $5.7 billion loan portfolio from Pacific Western Bank for $1.6 billion. The first tranche, totaling $3.25 billion in total commitments and $1.8 billion in current principal balance, was acquired by KW and affiliates of Fairfax Financial Holdings Limited (TSX:FFH).
June 09, 2023 | 10:03 am
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Kennedy Wilson acquires first tranche of $5.7B loan portfolio from Pacific Western Bank, expanding its assets and strengthening its partnership with Fairfax Financial Holdings.
The acquisition of the first tranche of the loan portfolio from Pacific Western Bank expands Kennedy Wilson's assets and strengthens its partnership with Fairfax Financial Holdings. This is likely to have a positive impact on KW's stock price in the short term.
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