Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 222

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 222
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5 2.52.076 %Retail square feet (millions)(2)2.6 1.11.541 %Hotels(2)1 — 150 %

(1) Weighted-average ownership percentages.

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

As of March 31, 2025, our global team, managed $28.6 billion of AUM (as noted above) of which $27.7 billion is operating properties and real estate loans (excluding development properties) which produced total revenue of $477.5 million ($185.2 million at KW's share) compared to $23.0 billion of operating properties as of March 31, 2024 with total revenue of $473.0 billion ($187.3 million at KW's share).  In addition, as of March 31, 2025, we held interests in 120 real estate loans in our global debt platform, 86% of which have floating interest rates, with an average interest rate of 8.3% per annum, an unpaid 

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principal balance of $4.6 billion ($228.3 million at KW's share) compared to 109 real estate loans, 78% of which had floating interest rates, with an average interest rates of 8.4% per annum, and an unpaid principal balance of $5.1 billion ($271.0 million at KW's share) during the same period in 2024.  During the three months ended March 31, 2025, the Company also completed a total of $189.2 million of gross acquisitions and $724.1 million of loan investments (KW's ownership interest of 34.4% and 2.5%, respectively) and $67.5 million of gross dispositions and $526.8 million of loan repayments (KW's ownership interest of 44.6% and 5%, 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,