Only sky
US property investor Kennedy Wilson has taken control of the Shelbourne Hotel Dublin through a 'pre-pack receivership' transaction. The US company had earlier acquired most of the debt associated with the property which was owed to the former Anglo Irish Bank by a group which included Bernard McNamara, Jerry O'Reilly and John Sweeney.
The new owners plan to give the frontage of the hotel a facelift, refurbish 19 suites, continue the upgrading of 246 guestrooms and add a hair and beauty salon to the spa.
Staff and suppliers will not be affected and Marriott will continue to operate the hotel.
In May, 2014, RTE News broadcast the following report: Kennedy Wilson Europe Real Estate has agreed to buy two Irish property portfolios for €472m comprising of shops, offices and homes. The deal marks its first foray into Ireland since it floated on the stock market earlier this year.
The unit, an arm of US real estate investment fund Kennedy-Wilson Holdings, said the completion of the two acquisitions will bring its investments up to 54 office, industrial, retail and multi-family properties across the UK and Ireland, as well as a portfolio of UK loans. The latest deal include the Central Park portfolio of residential and commercial properties located in Dublin for €88.1m. It also includes the Opera portfolio of office and retail properties in Dublin and Cork, for €391.4m.
"Our first Irish acquisitions are complementary to our growing portfolio, and reinforce our investment strategy to invest in value-add assets within markets with strong fundamentals and high return potential," company director Mary Ricks said.
When it announced its stock market listing in February, Kennedy Wilson said it would target investments across Europe that would generate a total return of 15%.
Only sky
US property investor Kennedy Wilson has taken control of the Shelbourne Hotel Dublin through a 'pre-pack receivership' transaction. The US company had earlier acquired most of the debt associated with the property which was owed to the former Anglo Irish Bank by a group which included Bernard McNamara, Jerry O'Reilly and John Sweeney.
The new owners plan to give the frontage of the hotel a facelift, refurbish 19 suites, continue the upgrading of 246 guestrooms and add a hair and beauty salon to the spa.
Staff and suppliers will not be affected and Marriott will continue to operate the hotel.
In May, 2014, RTE News broadcast the following report: Kennedy Wilson Europe Real Estate has agreed to buy two Irish property portfolios for €472m comprising of shops, offices and homes. The deal marks its first foray into Ireland since it floated on the stock market earlier this year.
The unit, an arm of US real estate investment fund Kennedy-Wilson Holdings, said the completion of the two acquisitions will bring its investments up to 54 office, industrial, retail and multi-family properties across the UK and Ireland, as well as a portfolio of UK loans. The latest deal include the Central Park portfolio of residential and commercial properties located in Dublin for €88.1m. It also includes the Opera portfolio of office and retail properties in Dublin and Cork, for €391.4m.
"Our first Irish acquisitions are complementary to our growing portfolio, and reinforce our investment strategy to invest in value-add assets within markets with strong fundamentals and high return potential," company director Mary Ricks said.
When it announced its stock market listing in February, Kennedy Wilson said it would target investments across Europe that would generate a total return of 15%.