Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 192

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 192
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 gains unwind as loans move closer to their respective maturity dates.During the three months ended March 31, 2024, the Company recorded a $16.4 million decrease in the accrual for carried interests primarily related to the fair value decreases that we recorded with respect to office properties in one of our Western United States commingled funds as described above.Vintage Housing Holdings    As of March 31, 2025 and December 31, 2024, the carrying value of the Company's investment in VHH was $337.5 million and $333.9 million, respectively. For the three months ended March 31, 2025 and 2024 VHH had distributions of $2.7 million and $3.8 million and equity income pickup of $6.0 million and $3.2 million which, included $3.3 million and $0.7 million relating to fair value adjustments. The increase in the current period primarily relates to increased NOI at the properties.  As of  March 31, 2025, VHH totaled 12,695 units including 1,870 units under development.  Capital Commitments

    As of March 31, 2025, Kennedy Wilson had unfulfilled capital commitments totaling $279.8 million to nine of its unconsolidated joint ventures, including $53.7 million relating to the Funds, under their respective operating agreements. The Company may be called upon to contribute additional capital to joint ventures in satisfaction of such capital commitment obligations. 

NOTE 5—FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION

    The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of March 31, 2025:(Dollars in millions)Level 1Level 2Level 3TotalUnconsolidated investments$— $— $1,911.1 $1,911.1 Net currency derivative contracts— (14.7)— (14.7)Total$— $(14.7)$1,911.1 $1,896.4     The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of December 31, 2024:(Dollars in millions)