Kennedy Wilson said Friday it closed on the initial tranche of loans as part of a $5.7 billion loan portfolio acquisition from Pacific Western Bank just days...
Kennedy Wilson KW said Friday it closed on the initial tranche of loans as part of a $5.7 billion loan portfolio acquisition from Pacific Western Bank PACW, just days after it said it would sell a 95% stake in the loans to Fairfax Financial holdings Ltd. CA:FFH. PacWest CEO Paul Taylor said the deal “will improve our liquidity and capital as we continue to implement our announced strategy to return our focus to relationship-based community banking,” The first tranche of loans acquired for $1.
PacWest CEO Paul Taylor said the deal “will improve our liquidity and capital as we continue to implement our announced strategy to return our focus to relationship-based community banking,” The first tranche of loans acquired for $1.6 billion by Kennedy Wilson and Fairfax Financial totaled $3.25 billion in total commitments and $1.8 billion in current principal balance.
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