Company: KW
Filing Date: 2025-03-03
Form Type: 424B3
Source: 0001408100-25-000092
Chunk: 67

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-03-03
Form: 424B3
Chunk 67
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 of the fair value movements during the current and prior periods.

Operational Highlights

Same property highlights for the year ended December 31, 2024 include:

• For our 17,279 same property market rate multifamily units for the year ended December 31, 2024 as compared to the prior period:

◦ occupancy increased 95% from 94%

◦ net operating income (net effective) increased 3%

◦ total revenues increased 3%

• For our 9,157 same property affordable rate multifamily units for the year ended December 31, 2024 as compared to the prior period:

◦ occupancy increased 0.4% to 95%

◦ net operating income (net effective) increased 6%

◦ total revenues increased 6%

• For our 3.5 million square feet of same property office real estate for the year ended December 31, 2024 as compared to the prior period:

◦ occupancy remained flat at 94%

◦ net operating income (net effective) increased 2%

◦ total revenues increased 2%

• Investment Transactions for the year ended December 31, 2024 include:

◦ Consolidated Portfolio:

▪ Recognized $160.1 million of gain on sale of real estate, net which generated $367 million in cash to us. The major sales included: (i) the Company's sale of the Shelbourne hotel which resulted in a gain of $99.1 million; (ii) the sale of a wholly-owned multifamily asset in Western United States which resulted in a gain of $56.1 million; (iii) the sale of a building in an office campus which had a gain of $21.6 million; (iv) the deconsolidation of a previously wholly-owned multifamily property as a result of our sale of 90% of the ownership interest to a new partner which resulted in a gain of $8.1 million; and (v) the remainder of gain on sale of real estate, net was a realized loss relating to the sale of non-core retail in the United Kingdom and Spain. The gain on sale of real estate, net includes an impairment loss of $22.1 million relating to non-core office and retail buildings in the United Kingdom, Spain and Italy that were marketed for sale during such period.

◦ Co-Investment Portfolio

▪ Completed $797.6 million in gross real estate acquisitions in which the Company had a 13.3% ownership