Following the off-market, $4.1 billion acquisition of a construction loan portfolio from a regional bank in 2023, Kennedy Wilson’s credit business is currently focused on originating loans secured by high-quality multifamily and student housing properties in the company’s key Western U.S. markets as well as new regions across the southern and eastern United States. Kennedy Wilson started its real estate credit business in May 2020 as a bridge lending platform, and over these few short years, it has grown to a total of $11.0 billion in loan investments.
Key to the platform’s strategy is working with forward-thinking, high-quality sponsors who are building best-in-class, tech-forward, sustainable developments with a focus on minimizing environmental impact to reduce operational costs, attract environmentally conscious renters, and ensure the longevity of their projects.
A $96 million senior construction loan for the TideLock development in Alexandria, Virginia provided in early 2024 is supporting the conversion of three existing office buildings into a waterfront mixed-use property with 169 apartment units, 65 condominiums, and retail space. Converting office buildings to residential spaces offers a sustainable approach to urban development by repurposing existing infrastructure, reducing construction waste, and lowering carbon emissions compared to new construction. Kennedy Wilson also focuses on lending to developers creating transit-oriented projects that reduce car
dependency, lower emissions and foster efficient resources to create a more environmentally friendly and livable urban environment.
A Kennedy Wilson loan for Jefferson Oceanside near San Diego, California will pave the way for a new 295-unit garden style multifamily community adjacent to the Crouth Street – Transit District Sprinter Hybrid Rail station with a commuter rail line spanning 22 miles that connects Oceanside, Vista, San Marcos, and Escondido. Across the country, in Manhattan, a Kennedy Wilson loan for 180 E 125th street will enable developers to deliver a 614-unit multifamily asset adjacent to the 125th Street 4/5/6 subway station on Lexington Avenue, with 10-minute express access to Grand Central Terminal and connectivity throughout New York City.
