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Kennedy-Wilson divests 2 UK assets for $178M

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Kennedy-Wilson divests 2 UK assets for $178M

Kennedy-Wilson Holdings Inc. sold two wholly owned properties in the U.K. for approximately $178 million.

The real estate investment company sold its unlevered properties, namely Fairmont St Andrews resort in Scotland and Leavesden Park office asset near Watford, for roughly $41 million in gains.

Kennedy-Wilson will use the proceeds from the sales to fund other European investment opportunities as well as existing development projects.

The Fairmont St Andrews is a 211-bedroom luxury hotel at a 520-acre land with two 18-hole golf courses.

Leavesden Park is part of a 300-acre business park campus within Greater London, comprising about 200,000 square feet of refurbished grade A office space and 778 parking spaces.