Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 186

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 186
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, 2025 and 2024, respectively. 

    Our consolidated results of operations often are impacted from, among other things, property acquisitions, dispositions, and stabilization of development and redevelopment projects. The results of operations of any acquired properties are included in our financial statements as of the date of acquisition. Our results of operations may also be affected by national, regional 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 nine months ended September 30, 2025 include:

•For our 15,815 same property multifamily units for the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024:

◦occupancy increased to 95.2% from 94.8% 

◦net operating income increased by 3.0% 

◦total revenues increased by 1.9%

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

◦occupancy was down 0.6% to 93.6%  

◦net operating income increased by 3.2%

◦total revenues increased by 4.5%

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

◦occupancy was down 2.0% to 91.8%

◦net operating income decreased by 4.7% 

◦total revenues decreased by 2.0% 

•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 assets: a wholly-owned 88-unit multifamily property located in the Mountain West, office assets in Ireland, Italy and the United Kingdom. These transactions dispositions $155.0 million of