Company: KW
Filing Date: 2025-04-14
Form Type: 8-K
Source: 0001408100-25-000102
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Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-04-14
Form: 8-K
Item: Item 8.01
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Item 8.01 Other Events.

On April 10, 2025, Kennedy-Wilson Holdings, Inc., a Delaware corporation (the “ Company”), completed a $510 million (€472 million) refinancing of existing mortgages secured by five multifamily assets primarily located in Dublin, Ireland. These assets are owned through an unconsolidated joint venture which the Company manages and holds a 50% ownership interest in. The new 5-year secured financing carries a floating all-in rate of approximately 4.2% (3 month Euribor + 1.95%) and replaced the previously existing $537 million mortgage (the “ Previously Existing Mortgage”). The Previously Existing Mortgage represented approximately 40% of the total secured debt maturities for the Company in 2025.

These five multifamily assets are fully stabilized with current occupancy at 99.5% and produced an annual net operating income of approximately $40.3 million as of December 31, 2024. With the new five-year financing, the total mortgage interest expense with respect to these properties will be approximately $21.5 million per annum (which represents approximately $3 million per annum in incremental interest expense under the new financing at the Company’s share).

Applicable US Dollar figures shown above are based on a Euro to US Dollar foreign exchange rate on March 31, 2025 (€1.0815=$1.00).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

  KENNEDY-WILSON HOLDINGS, INC.                               
  By:                                /s/ JUSTIN ENBODY        
                                     Justin Enbody            
                                     Chief Financial Officer  

Date: April 14, 2025