Kennedy Wilson Acquires UK Institutional Office Campus for USD 81m.

MANews-(C)2009-2021

California-based real estate investment company Kennedy Wilson (NYSE: KW) has acquired Forum, a wholly owned institutional-quality office campus, located on the South Coast of the UK, for USD 81m.

The Forum includes 252,000 square feet of office space across five buildings on a 30-acre site.

The campus is leased to corporate tenants, including HSBC and Specsavers, with a weighted average lease term to first break of 4.2 years.

The office acquisition was completed at a 6.3% cap rate with 85% occupancy and, following the lease up of the vacant space, the yield on cost is...

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