{"id":402555,"date":"2020-12-18T03:03:06","date_gmt":"2020-12-18T08:03:06","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=402555"},"modified":"2020-12-18T03:03:06","modified_gmt":"2020-12-18T08:03:06","slug":"kennedy-wilson-and-gic-enter-into-1-billion-urban-logistics-joint-venture","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kennedy-wilson-and-gic-enter-into-1-billion-urban-logistics-joint-venture\/","title":{"rendered":"Kennedy Wilson and GIC Enter Into ~$1 Billion Urban Logistics Joint Venture"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Kennedy Wilson and GIC Enter Into ~$1 Billion Urban Logistics Joint Venture <\/b><\/p>\n<p>BEVERLY HILLS, Calif.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nGlobal real estate investment company <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kennedywilson.com&amp;esheet=52350665&amp;newsitemid=20201218005052&amp;lan=en-US&amp;anchor=Kennedy+Wilson&amp;index=1&amp;md5=30c31f9671e1d5f5bf60e204aa80284b\">Kennedy Wilson<\/a> (NYSE:KW) and GIC, Singapore\u2019s sovereign wealth fund, have entered into a joint venture (\u201cthe <b>Joint Venture<\/b>\u201d) to acquire and manage urban logistics properties in the UK, with the potential to expand into Ireland and Spain.\n<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20201218005052\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201218005052\/en\/<\/a><\/p>\n<div id=\"bwbodyimg\" style=\"width: 480px;float:left;padding-left:0px;padding-right:20px;padding-top:0px;padding-bottom:0px\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201218005052\/en\/847747\/4\/Melton_Enterprise_Park%2C_Hull.jpg\" alt=\"Kennedy Wilson and GIC Urban Logistics Joint Venture (Photo: Business Wire)\" \/><\/p>\n<p style=\"font-size:85%\">Kennedy Wilson and GIC Urban Logistics Joint Venture (Photo: Business Wire)<\/p>\n<\/div>\n<p>\nThe Joint Venture will be seeded with a $220 million portfolio comprising 18 urban logistics assets in prime locations in the UK. The assets are currently wholly owned by Kennedy Wilson. The Joint Venture will seek additional last-mile urban distribution center investment opportunities, targeting total assets of up to $1 billion.\n<\/p>\n<p>\nKennedy Wilson will be responsible for the sourcing, acquisition and management of the assets. Kennedy Wilson will have a 20% ownership and GIC will have an 80% ownership in the Joint Venture.\n<\/p>\n<p><b>Mary Ricks, President of Kennedy Wilson, said,<\/b> \u201cWe have witnessed the rapid growth of urban logistics properties driven by strong demand from businesses looking to grow their distribution networks with limited supply of space across major cities in our target markets. Over the last five years, we have significantly grown our footprint in this asset class. We are thrilled to partner with a preeminent global long-term investor like GIC to further capitalize on the exciting opportunities in this sector and to build out a premier urban logistics portfolio.\u201d\n<\/p>\n<p><b>Lee Kok Sun, Chief Investment Officer of Real Estate, GIC, said<\/b>, \u201cThe logistics sector continues to be a long-term area of focus for GIC. We believe the urban logistics sub-market will benefit from positive fundamentals, due to increasing occupier demand driven by accelerating e-commerce adoption and changing supply chain management strategies. The Joint Venture\u2019s focused strategy, with the management of a skilled partner such as Kennedy Wilson, is well-placed to capitalise on these trends and generate resilient returns in the long run. This partnership is part of GIC\u2019s broader strategy to invest in this sector.\u201d\n<\/p>\n<p><b>About Kennedy Wilson<\/b><\/p>\n<p>\nKennedy Wilson (NYSE:KW) is a leading global real estate investment company. We own, operate, and invest in real estate through our balance sheet and through our investment management platform. We focus on multifamily and office properties located in the Western U.S., U.K., and Ireland. For further information on Kennedy Wilson, please visit: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kennedywilson.com&amp;esheet=52350665&amp;newsitemid=20201218005052&amp;lan=en-US&amp;anchor=www.kennedywilson.com&amp;index=2&amp;md5=289f0eb540d7c697cf71caa2d4b42f8d\">www.kennedywilson.com<\/a>.\n<\/p>\n<p><b>About GIC<\/b><\/p>\n<p>\nGIC is a leading global investment firm established in 1981 to manage Singapore\u2019s foreign reserves. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. Headquartered in Singapore, GIC has investments in over 40 countries and employs over 1,700 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.gic.com.sg&amp;esheet=52350665&amp;newsitemid=20201218005052&amp;lan=en-US&amp;anchor=www.gic.com.sg&amp;index=3&amp;md5=ca7be7f4f08976fff5814b4b1d72c278\">www.gic.com.sg<\/a> or <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fgic%2F%3ForiginalSubdomain%3Dsg&amp;esheet=52350665&amp;newsitemid=20201218005052&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=4&amp;md5=3479a018fdab09dfff012bf8d8e6b188\">LinkedIn<\/a>.\n<\/p>\n<p>\nKW-IR\n<\/p>\n<p>\nSpecial Note Regarding Forward-Looking Statements\n<\/p>\n<p>\nStatements in this press release that are not historical facts are \u201cforward-looking statements\u201d within the meaning of U.S. federal securities laws. These forward-looking statements are estimates that reflect our management\u2019s current expectations, are based on assumptions that may prove to be inaccurate and involve known and unknown risks. Accordingly, our actual results or performance may differ materially and adversely from the results or performance expressed or implied by these forward-looking statements, including for reasons that are beyond our control. For example, we may not be able to maintain our current acquisition or disposition pace or identify future properties to acquire on terms we consider attractive, and our current property portfolio may not perform as expected. Accordingly, you should not unduly rely on these statements, which speak only as of the date of this press release. We assume no duty to update the forward-looking statements, except as may be required by law.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201218005052r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201218005052\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201218005052\/en\/<\/a><\/span><\/p>\n<p><b>Kennedy Wilson<br \/>\n<br \/>Investors<br \/>\n<\/b><br \/>Daven Bhavsar, CFA<br \/>\n<br \/>Vice President of Investor Relations<br \/>\n<br \/>+1 (310) 887-3431<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:dbhavsar@kennedywilson.com\">dbhavsar@kennedywilson.com<\/a><\/p>\n<p><b>U.S. Media<br \/>\n<\/b><br \/>Emily Heidt<br \/>\n<br \/>Director of Public Relations<br \/>\n<br \/>+1 (310) 887-3499<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:eheidt@kennedywilson.com\">eheidt@kennedywilson.com<\/a><\/p>\n<p><b>European Media<br \/>\n<\/b><br \/>FTI Consulting<br \/>\n<br \/>Dido Laurimore \/ Eve Kirmatzis<br \/>\n<br \/>+44 20 3727 1000<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:kennedywilson@fticonsulting.com\">kennedywilson@fticonsulting.com<\/a><\/p>\n<p><b>GIC<br \/>\n<\/b><br \/>Marissa Lum<br \/>\n<br \/>Assistant Vice President, Communications<br \/>\n<br \/>+65 6889 6591<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:marissalum@gic.com.sg\">marissalum@gic.com.sg<\/a><\/p>\n<p>\nMah Lay Choon<br \/>\n<br \/>Senior Vice President, Communications<br \/>\n<br \/>+65 6889 6841<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:mahlaychoon@gic.com.sg\">mahlaychoon@gic.com.sg<\/a><\/p>\n<p><b>KEYWORDS:<\/b> California Ireland United States Singapore North America Asia Pacific Spain Europe<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Commercial Building &amp; Real Estate Construction &amp; Property Finance Professional Services REIT Logistics\/Supply Chain Management Transport Residential Building &amp; Real Estate<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201218005052\/en\/234274\/3\/KWlogo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201218005052\/en\/847746\/3\/Beddington_Lane%2C_Croydon.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">Kennedy Wilson and GIC Urban Logistics Joint Venture (Photo: Business Wire)<\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201218005052\/en\/847747\/3\/Melton_Enterprise_Park%2C_Hull.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">Kennedy Wilson and GIC Urban Logistics Joint Venture (Photo: Business Wire)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Kennedy Wilson and GIC Enter Into ~$1 Billion Urban Logistics Joint Venture BEVERLY HILLS, Calif.&#8211;(BUSINESS WIRE)&#8211; Global real estate investment company Kennedy Wilson (NYSE:KW) and GIC, Singapore\u2019s sovereign wealth fund, have entered into a joint venture (\u201cthe Joint Venture\u201d) to acquire and manage urban logistics properties in the UK, with the potential to expand into Ireland and Spain. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201218005052\/en\/ Kennedy Wilson and GIC Urban Logistics Joint Venture (Photo: Business Wire) The Joint Venture will be seeded with a $220 million portfolio comprising 18 urban logistics assets in prime locations in the UK. The assets are currently wholly owned by Kennedy Wilson. The Joint Venture will seek additional last-mile urban distribution &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kennedy-wilson-and-gic-enter-into-1-billion-urban-logistics-joint-venture\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Kennedy Wilson and GIC Enter Into ~$1 Billion Urban Logistics Joint Venture&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-402555","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kennedy Wilson and GIC Enter Into ~$1 Billion Urban Logistics Joint Venture - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kennedy-wilson-and-gic-enter-into-1-billion-urban-logistics-joint-venture\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kennedy Wilson and GIC Enter Into ~$1 Billion Urban Logistics Joint Venture - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Kennedy Wilson and GIC Enter Into ~$1 Billion Urban Logistics Joint Venture BEVERLY HILLS, Calif.&#8211;(BUSINESS WIRE)&#8211; Global real estate investment company Kennedy Wilson (NYSE:KW) and GIC, Singapore\u2019s sovereign wealth fund, have entered into a joint venture (\u201cthe Joint Venture\u201d) to acquire and manage urban logistics properties in the UK, with the potential to expand into Ireland and Spain. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201218005052\/en\/ Kennedy Wilson and GIC Urban Logistics Joint Venture (Photo: Business Wire) The Joint Venture will be seeded with a $220 million portfolio comprising 18 urban logistics assets in prime locations in the UK. The assets are currently wholly owned by Kennedy Wilson. 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This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201218005052\/en\/ Kennedy Wilson and GIC Urban Logistics Joint Venture (Photo: Business Wire) The Joint Venture will be seeded with a $220 million portfolio comprising 18 urban logistics assets in prime locations in the UK. The assets are currently wholly owned by Kennedy Wilson. 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