Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 23

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 23
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)General and administrative, corporate(2.0)Depreciation and amortization(36.9)Interest expense(66.9)Loss on early extinguishment of debt(0.3)Other loss, corporate(8.3)Benefit from income taxes10.7 Company's share of interest, depreciation, and taxes included in income from unconsolidated investments(1)(35.4)Income from unconsolidated investments excluded from Segment Adjusted EBITDA1.7 Net income(66.8)Net loss attributable to noncontrolling interests0.2 Preferred dividends(10.8)Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders$(77.4)

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Financial Highlights

    GAAP net loss to common shareholders was $21.2 million and $77.4 million for the three months ended September 30, 2025 and 2024, respectively. The increase in GAAP net income to common shareholders is primarily due to higher gain on sale of real estate, net and improvements in fair value fluctuations in the current period. 

    Segment Adjusted EBITDA was $130.6 million and $80.5 million for the three months ended September 30, 2025 and 2024, respectively. 

    Operational Highlights

    Same store property highlights for the three months ended September 30, 2025 include:

•For our 16,813 same property market rate multifamily units for the three months ended September 30, 2025 as compared to the three months ended September 30, 2024:

◦occupancy remained flat at 95.1%  

◦net operating income increased by 3.2% 

◦total revenues increased by 2.1% 

•For our 10,825 same property affordable rate multifamily units for the three months ended September 30, 2025 as compared to the three months ended September 30, 2024:

◦occupancy was down 0.9% to 93.5%  

◦net operating income increased by 0.2%

◦total revenues increased by 2.3%

•For 3.1 million square feet of same property office real estate for the three months ended September 30, 2025 as compared to the three months ended September 30, 2024:

◦occupancy decreased to 90.0% from 94