Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 184

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 184
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 redevelopment projects. The results of operations of any acquired properties are included in our financial statements as of the date of acquisition. Our results of operations may also be affected by national, regional and local economic conditions, as well as macroeconomic conditions, which are at times subject to volatility and uncertainty such as the recent market volatility as a result of changes in tariff policies. 

    Operational Highlights

    Same store property highlights for the six months ended June 30, 2025 include:

•For our 16,911 same property multifamily units for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024:

◦occupancy increased to 95.0% from 94.4% 

◦net operating income increased by 3.6% 

◦total revenues increased by 2.3%

•For our 10,367 same property affordable rate multifamily units for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024:

◦occupancy was down 1.2% to 93.6%  

◦net operating income increased by 5.1%

◦total revenues increased by 5.8%

•For 3.3 million square feet of same property office real estate for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024:

◦occupancy was flat at 91.9%

◦net operating income increased by (4.0)% 

◦total revenues increased by (2.1)% 

•Investment Transactions

◦Consolidated Portfolio:

▪(i) Acquired an industrial development site in the United Kingdom for $48 million, which we expect to recapitalize with a partner; (ii) recapitalized and deconsolidated a 1,008 unit wholly-owned multifamily property which reduced the Company’s ownership interests in the asset to 10%; and (iii) sold non-core office assets in Ireland, Italy and the United Kingdom. These transactions dispositions $132.0 million of cash to KW and a gain on sale of $54.6 million

◦Co-Investment Portfolio:

63

▪Acquired six multifamily properties in the Mountain West and an industrial property in the Pacific Northwest for $493.7 million. KW has a weighted-average 12.1%