Company: KW
Filing Date: 2025-03-31
Form Type: 10-K/A
Source: 0001408100-25-000099
Chunk: 20

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-03-31
Form: 10-K/A
Chunk 20
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9       |       |  12,512,693 |
| Thereafter |       |  91,004,261 |
| Total      | $     | 158,748,866 |

The Company has no loans maturing in 2025 and any principal payments are contractual amortization on existing loans that the Company plans to pay from underlying property operations.

As of December 31, 2024 and 2023, the Company had accrued interest payable on mortgage and note payables of $723,085 and $702,068.

(7) Leasing Activities

The Company has entered into various lease agreements. Total rent expense related to these third-party operating leases were $1,364,317, $1,209,446, and $471,348 for the years ended December 31, 2024, 2023 and 2022, respectively, and is included in general and administrative expense on the consolidated statements of operations. The average remaining lease term as of December 31, 2024 and 2023 is 27.1 years and 26.8 years respectively and the weighted average discount rate as of December 31, 2024 and 2023 is 3.23% and 3.23%, respectively. Cash paid for amounts included in the measurement of operating lease liabilities during the years ended December 31, 2024 was and 2023 was $1,364,317 and $1,209,446, respectively. The lease liabilities are included in accrued expenses on the consolidated balance sheets. As the Company’s leases do not provide an implicit rate, the risk-free rate was based on the information available at the commencement date and considering the term of the lease to determine the present value of the lease payments.

The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted to calculate the right of use asset and related lease liability for its operating leases in which the Company is the lessee:

#### Table of Contents
|                                    | Minimum Rental Payments |            |
|:-----------------------------------|:------------------------|-----------:|
| 2025                               | $                       |  1,392,234 |
| 2026                               |                         |  1,392,234 |
| 2027                               |                         |  1,392,234 |
| 2028                               |                         |  1,392,234 |
| 2029                               |                         |  1,382,634 |
| There