Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 200

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 200
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 value add additions to our operating properties. We also contributed $87.8 million to unconsolidated investments that were primarily used to fund new acquisitions, capital expenditures for new home construction at our Kohanaiki residential development and to pay down property debt held within unconsolidated investments. 

    Net cash provided by investing activities totaled $173.6 million for the six months ended June 30, 2024. We received $330.6 million from the sale of Shelbourne Hotel, a building at the 90 East office complex in Issaquah, Washington and non-core commercial assets in the United Kingdom. We received $4.8 million in investing distributions from our co-investments primarily from conversion of VHH assets and redemption of a hedge fund investment. Loan draws and our share of new loans issued as part of our Construction Loan and bridge credit platform totaled $21.0 million.  We received $15.3 million of proceeds from repayments on loans previously issued. We spent $88.7 million on capital expenditures on consolidated assets primarily relating to development properties as well as value add additions to our operating properties. We also contributed $59.4 million to unconsolidated investments that were primarily used to fund our share of new acquisitions made within our new commingled fund in the United States, capital calls on European developments, capital calls on Kona Village while we are working towards stabilization and merger relating to our investment in Zonda.

Financing

Our net cash related to financing activities are generally impacted by capital-raising activities net of dividends and distributions paid to common and preferred shareholders and noncontrolling interests as well as financing activities for consolidated real estate investments.  Net cash used in financing activities totaled $364.4 million for the six months ended June 30, 2025.  During the six months ended June 30, 2025, we drew $170.0 million on our revolving line of credit and repaid $178.7 million on the line of credit.  We made $304.0 million of repayments on mortgage debt relating to the recapitalization of multifamily property discussed above and sale of two non-core office buildings in Ireland.  During the six months ended June 30, 2025, we paid common dividends of $34.9 million and preferred dividends of $21.8 million and we repurchased $9.2 million of our common stock under our share repurchase plan.  We received $15.6 million in cash in our real estate