Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 156

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 156
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232 1 1H4 and H7 at Hamilton Landing(3)ConsolidatedNorthern CaliforniaOffice100%1118,000 — 36 6 Stockley ParkConsolidatedUnited Kingdom(2)Office100%154,000 — — — The HeightsCo-InvestmentUnited Kingdom(2)Office51%1356,000 — 73 — Kona VillageCo-InvestmentHawaiiHotel50%1— — N/A— Total Lease-Up71,360,000 232 31 %$21 

(1)    Figures shown in this column are an estimate of KW's remaining costs to develop to completion or to complete the entitlement process, as applicable, as of March 31, 2025.  Total remaining costs may be financed with third-party cash contributions, proceeds from projected sales, and/or debt financing.  These figures are budgeted costs and are subject to change.  There is no guarantee that the Company will be able to secure the project-level debt financing that is assumed in the figures above.  If the Company is unable to secure such financing, the amount of capital that the Company will have to invest to complete the projects above may significantly increase. 

(2) Estimated foreign exchange rates are €1.00 = $1.08 USD, and £1.00 = $1.29 USD related to NOI.

    In addition to our development, redevelopment and stabilization initiatives we regularly implement a value-add approach to our consolidated and unconsolidated investments which includes rehabbing properties and adding or updating property amenities. The capital required to implement these value-add initiatives is typically funded with capital calls, refinancing or supplemental financings at the property level.  We are not required to make these investments, but they are a key driver in our ability to increase net operating income at our properties post-acquisition. 

Other Items

    On November 3, 2020,  the Company's board of directors authorized an expansion of its existing $250 million share repurchase plan to $500 million. Repurchases under the program may be made in the open market, in privately negotiated transactions, through the net settlement of the Company’s restricted stock grants or otherwise, with the amount and timing of repurchases dependent on market conditions and subject to the Company’s discretion. The program does not obligate the Company to repurchase any specific number of shares and, subject to compliance with applicable laws, may be