Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 136

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 136
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 fees(98.9)(61.9)Less: Other(1.4)(2.2)Less: Loans(31.2)(26.1)Less: NCI adjustments (1)(12.3)(12.8)Add:  Unconsolidated investment adjustments (2)193.1 187.5 Add:  Above/below market rents (6)(1.1)(1.8)Less: Reimbursement of recoverable operating expenses(31.7)(33.2)Less: Properties bought and sold (3)(29.0)(109.0)Less: Other properties excluded (4)(36.2)(36.7)Other Reconciling Items (5)(6.1)(4.4)Same Property$476.6 $462.0 

Same Property - Revenue(6)*For the Year Ended December 31,Same Property (Reported)20242023Office - Same Property$109.5 $107.1 Multifamily Market Rate Portfolio - Same Property300.3 292.0 Multifamily Affordable Portfolio - Same Property66.8 62.9 Same Property$476.6 $462.0 

(*) This is a Non-GAAP financial measure. Please see our “Common Definitions” for a further explanation and discussion .

(1) Represents rental revenue and hotel revenue attributable to non-controlling interests.

(2) Represents the Company’s share of unconsolidated investment rental revenues, as applicable, which are within the applicable same property population.

(3) Represents properties excluded from the same property population that were purchased or sold during the applicable period.

(4) Represents properties excluded from the same property population that were not stabilized during the applicable period, or retail or industrial properties.

(5) Represents other properties excluded from the same property population that were not classified as a commercial or multifamily property within the Company’s portfolio. Also includes immaterial adjustments for foreign exchange rates, changes in ownership percentages, and certain non-recurring income and expenses.

(6)Excludes above/below market rents from the same property population, as they are representative of non-cash purchase price accounting income.

59

Same Property - NOI (Net Effective)(6)*For the Year Ended December 31,20242023Net Income$(33.7)$(281.4)Less: Investment management fees(98.9)(61.9)Less: Other(1.4)(2.2