Press Release: Kennedy-Wilson, Inc.
August 7, 2001
TOKYO -- Kennedy-Wilson Japan, a subsidiary of Kennedy-Wilson, Inc. (Nasdaq: KWIC), an international real estate
services and fund management firm, reported yesterday that they have successfully closed on an 86,000 sq. ft. (8,002
sq m) Class ``A'' property located in a prestigious section of central Tokyo's, Chiyoda ward. The transaction represents
the first acquisition of new fund formed with a Japan based capital partner. The firm expects this new Yen based
fund to compliment the current acquisition funds.
Kennedy-Wilson Japan's asset management division, which currently manages approximately 62 billion yen ($500 million)
of Properties, will provide asset management services. Total consideration for the transaction was approximately
$50 million USD.
Founded in 1977, Kennedy-Wilson, Inc. is an international real estate services and fund management firm headquartered
in Beverly Hills with 20 offices throughout the United States and Japan. The company offers a comprehensive array
of real estate services including brokerage, asset management, property management, development, investment sales
and acquisition. The firm sources and places debt and equity for the acquisition of real estate through its investment
and fund management divisions. Kennedy-Wilson is a strategic investor and manager of value-added and core portfolio
investments, both in partnership with institutional investors and in wholly owned projects in the United States
and Japan. Kennedy-Wilson provides real estate services to Japanese and international investors from its regional
headquarters office in Tokyo.
This release contains forward-looking statements as well as historical information. Statements of goals and strategies
and words such as ``plan'', ``believe'', ``anticipate'', ``expect'', ``objectives'', ``forecast'', and ``predict''
and other similar words are intended to identify forward-looking statements. These forward looking statements are
included in accordance with the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995,
and involve risks, uncertainties and other factors that may cause the company's actual results, performance, or
financial condition to be materially different from any results, performance, or financial condition suggested
by the statements in this release.
SOURCE: Kennedy-Wilson, Inc.