Kennedy Wilson has secured a new circa £500m debt facility with Goldman Sachs to finance the growth of its single-family rental housing joint venture with Canada Pension Plan Investment Board (CPP Investments).
The new five-year mortgage facility has been agreed with Goldman Sachs at “competitive terms” following an open-market process run by JLL Debt Advisory, which received strong interest from lenders. The facility will be used to finance Kennedy Wilson’s existing portfolio and pipeline.
Since its launch in October 2024, the JV has contracted on a portfolio of circa 1,600 units across 19 sites across the UK with housebuilders including Barratt Redrow, Miller Homes, Persimmon, Dandara, Wavensmere and Cala.
Mike Pegler, president of Kennedy Wilson Europe, said: “This facility establishes a new relationship with Goldman Sachs and will be accretive to the overall returns of the portfolio, underpinning our future pipeline as we continue to scale the platform. We received strong demand from lenders offering favourable terms, underlining the quality of the portfolio and the attractiveness of the SFH asset class to institutional lenders.”
Tom Jackson, managing director, head of real estate Europe, at CPP Investments, added: “Goldman Sachs is a long-standing relationship partner of CPP Investments and we are delighted to have them as a financing partner to our single-family residential strategy with Kennedy Wilson in the UK. This facility will help support our portfolio scale ambitions in the sector and deliver enhanced equity returns for CPP contributors and beneficiaries.”
