Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 116

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 116
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 minority ownership interest in Zonda, a technology based real estate residential housing advisory business that offers construction data providing insights and solutions for leaders in the home building industry, as a result of Zonda's recent completion of a merger transaction; (ii) fair value increases associated with VHH due to increases in NOI at the underlying properties and lower cost of capital associated with the business as interest rates have moved down; and (iii) fair value increase on a recently completed multifamily development in the Western United States as operations ramp up.During the nine months ended September 30, 2024, the Company recorded a $34.9 million decrease in the accrual for carried interests in our Funds primarily related to the fair value decreases that we recorded with respect to one of our Western United States commingled funds (as discussed above) and $10.2 million decrease in carried interests on certain separate account platforms that hold multifamily assets in the Western United States. As of September 30, 2024, the Company’s net accrued carried interests receivable totaled $32.2 million.Vintage Housing Holdings

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Kennedy-Wilson Holdings, Inc.Notes to Consolidated Financial Statements(Unaudited)

    As of September 30, 2025 and December 31, 2024, the carrying value of the Company's investment in VHH was $362.8 million and $333.9 million, respectively. For the nine months ended September 30, 2025, VHH had distributions of $8.4 million and equity income pickup of $36.4 million, which included $28 million relating to fair value adjustments. The increase in the current period primarily relates to increased NOI at the properties. As of September 30, 2025, VHH totaled 12,995 units including 1,960 units under development.  Capital Commitments

    As of September 30, 2025, Kennedy Wilson had unfulfilled capital commitments totaling $212.4 million to eight of its unconsolidated joint ventures, including $33.5 million relating to the Funds, under their respective operating agreements. The Company may be called upon to contribute additional capital to joint ventures in satisfaction of such capital commitment obligations. 

NOTE 5—FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION

    The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option