Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 24

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 24
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 property which reduced the Company’s ownership interests in the asset to 10%; and (ii) sold non-core office assets in Ireland, Italy and the United Kingdom. These dispositions generated $123.1 million of cash to KW and a gain on sale of $52.4 million. 

◦Co-Investment Portfolio:

•Completed $490.8 million in gross real estate acquisitions, which, the Company holds an 11.5% ownership interest.

•Originated $1,237.1 million in new construction loans, completed $523.8 million in additional fundings on existing loans, and realized $321.3 million in repayments, the Company’s share of which were $30.9 million, $16.0 million and $16.1 million respectively

    Foreign Exchange - Results of Operations

    A significant portion of our investments are located outside of the United States and denominated in foreign currencies.  In order to reduce the impact of foreign currency exchange rates we hedge some of our exposure.  However, we typically do not hedge future operations or cash flows and, therefore, changes in foreign currency rates will have an impact on our results of operations.  We have included the table below to illustrate the impact these fluctuations have had on our revenues, net income and Adjusted EBITDA by applying the relevant exchange rates for the prior period.  Please refer to the Currency Risk - Foreign Currencies section in Item 3 for a discussion of risks relating to foreign currency and our hedging strategy and the "Other Comprehensive Income" section below for a discussion of the balance sheet impact of foreign currency movements on our results of operations.  

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Three Months Ended June 30, 2025(dollars in millions)ConsolidatedCo-InvestmentTotalRevenues$2.1 2 %$0.2 — %$2.3 2 %Net (loss) income — — %14.8 231 %14.8 231 %Adjusted EBITDA2.0 1 %16.5 12 %18.5 13 %

Three Months Ended June 30, 2024(dollars in millions)ConsolidatedCo-InvestmentTotalRevenues$(0.2)— %$— — %$(0.2)— %Net (loss) income(0.8)(1)%1.9 3 %1.1 2 %Adjusted EBITDA