Company: KW
Filing Date: 2025-05-09
Form Type: 424B3
Source: 0001408100-25-000117
Chunk: 23

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-09
Form: 424B3
Chunk 23
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 31, |     | 2024 | December 31, |
|:-------------------------------------------------------------------------------------------------|:----|:-----|----------:|:----|:-----|-------------:|
| Land                                                                                             |     | $    |   1,018.7 |     | $    |        979.6 |
| Buildings                                                                                        |     |      |   3,587.4 |     |      |      3,548.7 |
| Building improvements                                                                            |     |      |     476.4 |     |      |        466.9 |
| In-place lease values                                                                            |     |      |     249.7 |     |      |        244.3 |
|                                                                                                  |     |      |   5,332.2 |     |      |      5,239.5 |
| Less accumulated depreciation and amortization                                                   |     |      |    -995.6 |     |      |       -949.1 |
| Real estate and acquired in place lease values, net of accumulated depreciation and amortization |     | $    |   4,336.6 |     | $    |      4,290.4 |

Real property, including land, buildings, and building improvements are included in real estate and are generally stated at cost. Buildings and building improvements are depreciated on a straight-line method over their estimated lives not to exceed 40 years.

Acquired in-place lease values are recorded at their estimated fair value and amortized over their respective weighted-average lease term which was 7.2 years at March 31, 2025.

Consolidated Acquisitions

The purchase of property is recorded to land, buildings, building improvements, and intangible lease value (including the value of above-market and below-market leases, acquired in-place lease values, and tenant relationships, if any) based on their respective estimated relative fair values. The purchase price generally approximates the fair value of the properties as acquisitions are transacted with willing third-party sellers.

During the three months ended March 31, 2025, Kennedy Wilson spent $25.7 million for the consolidated acquisition of an industrial development in the United Kingdom.

Gain on Sale of Real Estate, Net

During the three months ended March 31, 2025, Kennedy Wilson recognized loss on sale of real estate, net of $0.8 million. This includes gain on sale of a non-core commercial asset in the United Kingdom for $2.3 million, which