Company: KW
Filing Date: 2025-12-08
Form Type: 8-K
Source: 0001408100-25-000183
Chunk: 1

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-12-08
Form: 8-K
Item: Item 8.01
Chunk 1
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 Portfolio are located throughout the United States. Upon acquisition of the Property Portfolio, the Company will earn development and construction management fees and carried interest opportunities under Toll’s existing partnership arrangements for certain of the assets that are held in joint ventures with various partners. The Transaction Pipeline currently consists of ownership interests in four land positions (three of the four positions were acquired by the Company in the First Closing) as well as a future development pipeline including 24 separate purchase agreements to acquire land positions (18 of the 24 purchase agreements were acquired by the Company in the First Closing) throughout strategic markets in the United States. Upon closing the Transaction, the Company currently expects to own (i) approximately 8% of the ownership interest in the Property Portfolio and (ii) approximately 95% of the ownership interest in the Transaction Pipeline and would look to capitalize these Transaction Pipeline opportunities going forward with equity capital from partners and construction loans (with the Company’s ownership interests in these opportunities ultimately expected to be between approximately 5% to 20%).

In addition, as part of the First Closing, the Company and Toll entered into an asset management agreement whereby the Company will manage certain multifamily and student housing properties that will continue to be owned, in whole or in part, by Toll (the “ Toll Assets”). The Toll Assets that will be managed by the Company will also include the assets that are part of the Transaction that the Company has not yet acquired as part of the First Closing until such assets are acquired by the Company and its partners as described above. The Company will earn customary asset management fees, development and construction management fees, disposition fees and potential success fees and financing fees under the terms of the asset management agreement. The Company will also earn customary fees from its partners that invest alongside the Company in the Transaction.

Additionally, as part of the First Closing, certain Toll employees that were a part of Toll’s apartment development platform joined the Company as employees, including the platform’s executive leadership team. This apartment development platform team will continue to manage the Property Portfolio and the Toll Assets as well as further grow and scale the Company’s rental housing development platform.

The Company utilized existing liquidity and funds from its corporate revolving credit facility to fund its equity investment in the First Closing.

Cautionary Statement Regarding Forward-Looking Statements

This Current Report on Form 8-K contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “ Securities Act”) and Section 21E of the Securities Exchange Act of 193