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California  + Los Angeles  + Apartments  | 
William McMorrow

Kennedy Wilson Posts Record Earnings in Q2

Beverly Hills-based Kennedy Wilson recently announced historic earnings for second quarter 2021. The firm completed $1.7 billion in transactions, which is the highest level since the pandemic’s onset.

The $1.5 billion core-plus multifamily joint venture launched in the quarter and two new platforms launched in mid-2020 are growing rapidly. The debt platform and European logistics platform accounted for $350 million in transactions in the quarter.

Much of this performance can be tied to the growth of core markets. Moreover, occupancies are extremely high in suburban multifamily and office portfolios. Rents and population are appreciating in the Mountain States, specifically, Boise and Salt Lake City.

Kennedy Wilson is taking advantage of global liquidity and transaction volumes, supported by healthy capital markets and low interest rates. The firm is looking to spend significantly in the months ahead with cash including $400 million of 100 percent-owned multifamily assets.

“Continued strong demand for real estate has led to appreciating market values of our properties as evidenced by our recent dispositions,” said William McMorrow, chairman and CEO of Kennedy Wilson. “Looking ahead, we will maintain our focus on reinvesting the proceeds from recent asset sales and expanding our existing platforms to drive further growth in our recurring cash flow over the long term.”


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William McMorrow

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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