In June 2012, Kennedy Wilson acquired the iconic Alliance Building in Dublin, Ireland, which was the first real estate purchase in Ireland for Kennedy Wilson.
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Alliance
Alliance Story
The Alliance, part of The Gasworks development, is Dublin’s most distinctive apartment building and a unique residential icon in the heart of Dublin. Kennedy Wilson and partner Fairfax Financial purchased the property for €40 million from Grant Thornton, which acted as appointed receiver on behalf of Ulster Bank. The property resides within the old gasometer, a cylindrical, nine-story apartment block featuring a continuous glass façade. Google’s European headquarters are adjacent to the property and other area employers include Facebook, LinkedIn, HSBC and Accenture Additionally, Dublin’s city center is in close proximity and a nearby train (DART) station offers convenient transportation links.
Subsequent to purchase, Kennedy Wilson executed its value-add asset management program, which included adding a leasing center, the refurbishment of unit interiors, and other cosmetic upgrades.
