Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 34

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 34
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 and local economic conditions, as well as macroeconomic conditions, which are at times subject to volatility and uncertainty such as the recent market volatility as a result of changes in tariff policies. 

    Operational Highlights

    Same store property highlights for the six months ended June 30, 2025 include:

•For our 16,911 same property multifamily units for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024:

◦occupancy increased to 95.0% from 94.4% 

◦net operating income increased by 3.6% 

◦total revenues increased by 2.3%

•For our 10,367 same property affordable rate multifamily units for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024:

◦occupancy was down 1.2% to 93.6%  

◦net operating income increased by 5.1%

◦total revenues increased by 5.8%

•For 3.3 million square feet of same property office real estate for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024:

◦occupancy was flat at 91.9%

◦net operating income increased by (4.0)% 

◦total revenues increased by (2.1)% 

•Investment Transactions

◦Consolidated Portfolio:

▪(i) Acquired an industrial development site in the United Kingdom for $48 million, which we expect to recapitalize with a partner; (ii) recapitalized and deconsolidated a 1,008 unit wholly-owned multifamily property which reduced the Company’s ownership interests in the asset to 10%; and (iii) sold non-core office assets in Ireland, Italy and the United Kingdom. These transactions dispositions $132.0 million of cash to KW and a gain on sale of $54.6 million

◦Co-Investment Portfolio:

63

▪Acquired six multifamily properties in the Mountain West and an industrial property in the Pacific Northwest for $493.7 million. KW has a weighted-average 12.1% ownership interest in these acquisitions.  Acquired three additional sites for our UK single family platform.

▪Originated $1,961.2 million in new construction loans, completed