Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 283

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 283
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 ownership percentages.

(2) Includes amounts for properties that are stabilized, under development and unstabilized.

As of September 30, 2025, our global team, managed $31.0 billion of AUM (as noted above) of which $30.1 billion is operating properties and real estate loans (excluding development properties) which produced total revenue of $1.5 billion ($544.4 million at KW's share) compared to $26.6 billion of operating properties as of September 30, 2024 with total revenue of $1.5 billion ($551.4 million at KW's share).  In addition, as of September 30, 2025, we held interests in 127 real estate loans in our global debt platform, 87% of which have floating interest rates, with an average interest rate of 8.4% per annum, an unpaid 

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principal balance of $5.2 billion ($235.5 million at KW's share) compared to 117 real estate loans, 84% of which had floating interest rates, with an average interest rates of 8.7% per annum, and an unpaid principal balance of $5.1 billion ($272.7 million at KW's share) during the same period in 2024. During the nine months ended September 30, 2025, the Company also completed a total of $932.0 million of gross acquisitions and $2.6 billion of loan investments (KW's ownership interest of 16.8% and 2.5%, respectively) and $1.1 billion of gross dispositions and $956.7 million of loan repayments (KW's ownership interest of 85.8% and 5.0%, respectively). 

Investment Approach    

The following is our investment approach: 

•Identify markets with an attractive investment landscape and the potential for growth

•Establish operating platforms in our target markets

•Develop local intelligence and create and maintain long-lasting relationships, primarily with financial institutions and the brokerage community

•Leverage relationships and local knowledge to drive proprietary investment opportunities with a focus on off-market transactions that we expect will result in above average cash flows and returns over the long term

•Acquire high quality assets, primarily through our investment management platform with strategic partners and funds that we manage

•Reposition assets to enhance cash flows post-acquisition

•Explore development opportunities or acquire development assets that fit within our overall investment strategy

•Continuously