KENNEDY WILSON EUROPE BUYS PARK INN LOAN PORTFOLIO

Kennedy Wilson Europe Real Estate (KWE) has acquired a portfolio of loans secured against eight Park Inn hotels across the UK (seven in regional English locations and one in Cardiff in Wales) for £61.5 million (1,107 rooms, £55,555 per room). KWE reportedly secured a 38.4% discount to the £99.9 million face value of the loans, and the purchase price represents a 9.3% gross yield on cost.

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