Kennedy Wilson, a leading global real estate investment company and active national student housing lender, has recently closed senior construction loans for the development of three student housing projects totaling $184 million at the University of Wisconsin – Madison, University of North Texas, and University of California, Berkeley.
These recent deals, completed through Kennedy Wilson’s debt investment platform, expand the student housing loan portfolio to $850 million to develop approximately 8,800 beds. An additional $1 billion of new student housing loans totaling 8,200 beds are being evaluated.
Currently in various stages of construction, the three student housing projects offer proximity to university facilities and feature expansive amenity spaces, resort-style pools and spas, fitness centers, outdoor lounges, private study rooms, meditation space, and controlled garage access.
“We are seeing student housing continue to outperform many other asset classes due to strong operating fundamentals and the scarcity of new development in high-barrier markets adjacent to educational institutions that are continuing to grow enrollment,” said Thomas Whitesell, head of the debt investment group at Kennedy Wilson. “We are pleased to build on our long track record of student housing loan originations to become one of the most active student housing lenders in the country.”
The new student housing loans are the latest in an active year for Kennedy Wilson’s debt investment platform. Q3 2024 marked the one-year anniversary of Kennedy Wilson’s acquisition of a $4.1 billion construction loan portfolio. Since the acquisition, Kennedy Wilson’s debt investment platform has originated over $2.3 billion in multifamily and student housing construction loans with institutional sponsors across the country.
The company has a 2.5% average ownership in loans closed since Q3 2023 and maintains a strong construction loan pipeline. The company earns customary management fees in its role as asset manager.
Kennedy Wilson (NYSE: KW) is a leading real estate investment company with over $27 billion of assets under management in high growth markets across the United States, the UK, and Ireland. Drawing on decades of experience, our relationship-oriented team excels at identifying opportunities and building value through market cycles, closing more than $50 billion in total transactions across the property spectrum since going public in 2009. Kennedy Wilson owns, operates, and builds real estate within our high-quality, core real estate portfolio and through our investment management platform, where we target opportunistic equity and debt investments alongside our partners
