Company: KW
Filing Date: 2025-03-31
Form Type: 10-K/A
Source: 0001408100-25-000099
Chunk: 18

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-03-31
Form: 10-K/A
Chunk 18
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 sold the Company issues a seller financed note to the buyer and records an offsetting liability resulting in the gain on sale being deferred. When the Company receives principal payments on the note receivables it recognizes a proportionate portion of the deferred gain. During the years ended December 31, 2024, 2023 and 2022, the Company recognized gain on sale of $1,675,553, $1,071,126 and $1,762,204, respectively.

The Company also sold three properties and a retail investment that were previously consolidated in excess of seller financed notes that resulted in gain on sale of real estate of $80,888,403 for the year ended December 31, 2023.

(4) Equity Method Investments

The Company has ownership interests in properties where they do not control but still has significant influence that it accounts for as equity method investments. The combined summarized balance sheets and statement of operations of the operating entities in which the Company holds an interest as of December 31, 2024 and 2023 are as follows:

|                                                   |     | December 31, |          2024 |     |   |          2023 |
|:--------------------------------------------------|:----|:-------------|--------------:|:----|:--|--------------:|
| Cash and cash equivalents                         |     | $            |    17,702,536 |     | $ |    12,229,653 |
| Restricted cash                                   |     |              |    87,640,852 |     |   |    31,569,428 |
| Real estate, net of depreciation and amortization |     |              | 1,859,184,771 |     |   | 1,711,876,804 |
| Other assets, net                                 |     |              |    18,980,838 |     |   |    21,030,560 |
| Total assets                                      |     | $            | 1,983,508,997 |     | $ | 1,776,706,445 |
| Accounts payable and accrued expenses             |     | $            |    52,773,656 |     | $ |    45,209,408 |
| Development fee                                   |     |              |   102,608,119 |     |   |    96,580,784 |
| Mortgage and note payables                        |     |              | 1,467,306,167 |     |   |