**Kennedy Wilson and AXA IM Alts Refinance $510M in Irish Apartment Assets**
Beverly Hills-based global real estate investment firm Kennedy Wilson, in partnership with AXA IM Alts, has completed the refinancing of $510 million in maturing debt tied to five stabilized apartment properties in Dublin and Cork, Ireland. These assets are part of their 50/50 Irish joint venture, which was formed in 2018.
The five-year refinancing facility was secured from Wells Fargo and Deutsche Bank on competitive terms. The deal was arranged through Eastdil, which led the financing process and received strong interest from over 30 potential lenders.
The refinanced assets include Clancy Quay, Sandford Lodge, The Alliance, and Grange East in Dublin, as well as The Elysian in Cork. Together, these properties comprise 1,689 residential units—representing nearly half of the joint venture’s total portfolio of 3,500 rental units. All assets are fully leased and located in desirable city center and suburban neighborhoods.
“This is a testament to the quality of this portfolio as well as the underlying strength of the apartment market in Ireland, where we have invested since 2012,” said Mike Pegler, President of Kennedy Wilson Europe.
Pictured: Clancy Quay, courtesy of Kennedy Wilson Residential.
