Kennedy-Wilson Holdings Inc.
), an international real estate investment and services company,
recently acquired The Ritz-Carlton, Lake Tahoe and The
Ritz-Carlton Residences, Lake Tahoe along with its partners. The
property was acquired with $45 million of loan financing and $18
million of equity investment by the company for a 50% stake.
The 170-room premier highlands resort features 23 penthouse
residences in addition to the entire residential top floor. The
company will begin selling the residential units in January 2013
and expects good response owing to the robust housing market in
the Northern California Bay Area.
The hotel features luxurious accommodation with seasonal
French-inspired California cuisine. The resort's premier spa
provides treatment and therapies themed around water, woods and
wellness. The luxury resort will enable visitors to enjoy the
sophistication provided along with memorable ski and mountain
adventures with concierge services for golf, mountain biking and
hiking. The hotel provides personalized services, upscale
amenities and breathtaking scenic beauties.
Headquartered in Beverly Hills, California, Kennedy Wilson offers
a wide array of real estate services including auction,
conventional sales, property services, and research and
investment management. The company has 24 offices spread across
the U.S., U.K., Ireland and Japan. Since 2010, Kennedy Wilson,
along with its institutional partners, has acquired approximately
$7.1 billion worth of real estate and debt through consolidated
Kennedy Wilson currently retains a Zacks #3 Rank, which
translates into a short-term Hold rating. We have a long-term
Neutral recommendation on the stock. One of its competitors,
CBRE Group, Inc
) holds a Zacks #5 Rank, which translates into a short-term
Strong Sell rating.
CBRE GROUP INC (CBG): Free Stock Analysis
KENNEDY-WILSON (KW): Free Stock Analysis
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