Kennedy Wilson adds to Irish portfolio

International property investment firm Kennedy Wilson has — via its London-listed Europe Real Estate fund — invested a further €45m in the Irish market by acquiring significant assets from both Nama and the IBRC.

The €29.8m purchase, from Nama, of the 138-room Portmarnock Hotel & Golf Links represents the company’s first hotel acquisition, while agreement has also been reached on the acquisition — for €14.8m — of the multi-family Liffey Trust Building in Dublin’s docklands, from the IBRC.

Kennedy Wilson Europe’s president and CEO, Mary Ricks, said the two acquisitions demonstrate the company’s “robust sourcing capabilities” in Ireland and its strong relationship with financial institutions.