News in Brief from Kennedy Wilson, JLL

Kennedy Wilson Reaches $1 Billion in Real Estate Debt Platform
Kennedy Wilson, Beverly Hills, Calif., said its debt investment platform crossed $1 billion in loans secured by real estate across the western United States.

The news comes on the heels of the company launching a new $2 billion debt platform in mid-2020.

Currently, Kennedy Wilson’s debt portfolio includes 16 loans primarily secured by multifamily and office properties located throughout California, Washington and Colorado. Kennedy Wilson’s debt team has both originated and purchased first mortgage loans, mezzanine loans and other subordinate debt backed by a group of well-capitalized sponsors.

Kennedy Wilson is coinvesting alongside its partners and has $93 million of committed capital in the debt platform’s loans to date. In its role as asset manager, Kennedy Wilson is also earning customary management fees.

Kennedy Wilson has completed nearly $7 billion in real estate-related debt investments with its partners since 2010.

JLL Partner with SFR Proptech Firm Roofstock

JLL, Chicago, announced a multi-faceted transaction with Roofstock, a proptech and online marketplace in the single-family rental sector.

The deal included a strategic minority investment in Roofstock by JLL and commercial partnership that enables JLL to expand its service offerings in the residential sector. As part of the deal, Roofstock also purchased Stessa, the leading asset management software-as-a-service solution for SFR investors, which had been owned by JLL’s technology division, JLL Technologies, since January 2018.

“The single-family rental asset class is seeing strong demand from our investor clients – both private and increasingly institutional – and this investment will position our teams to offer unique insights and access to opportunities in this space,” said JLL Capital Markets CEO Richard Bloxam.

Through this commercial partnership, JLL can now immediately offer clients the ability to access the U.S. SFR market at scale, backed by a robust suite of services that deliver a near seamless transaction and portfolio management experience. The incorporation of Roofstock’s “real estate investing cloud” into JLL’s existing enterprise enables JLL’s clients to invest in U.S. residential real estate at scale, speed and with precision. Roofstock will also gain access to JLL’s global footprint to fuel its continued growth, creating a new pipeline of activity that benefits all users of its real estate marketplace.