Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 184

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 184
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 Portfolio was 5% of the purchase price and the future funding obligations.  The $4.1 billion represented the gross commitment amount for the Construction Loan Portfolio, which has been reduced to $3.7 billion as of December 31, 2023, due to loan repayments. The Construction Loan Portfolio has a current outstanding balance of $2.4 billion (Kennedy Wilson share of $118.9 million), not including the 4.5% discount on gross commitment amounts from the time of purchase. As of December 31, 2024, the Company had unfulfilled capital commitments totaling $123.4 million to our loan portfolio.The Company had loan purchases and originations of $231.1 million and $247.2 million at December 31, 2024 and December 31, 2023, respectively.  During the year ended December 31, 2024 and December 31, 2023, the Company had loan income of $31.2 million and $26.1 million, respectively.  During the year ended December 31, 2024 and 2023, the Company recorded a $11.2 million and $7.0 million of credit loss reserve through other (loss) income. See Note 2 for more detail on CECL reserves.

NOTE 7—OTHER ASSETS

Other assets consist of the following: December 31,(Dollars in millions)20242023Straight line rent receivable$40.5 $45.8 Interest rate caps and swaps12.9 29.0 Goodwill23.9 23.9 Hedge assets4.9 13.3 Prepaid expenses14.0 13.1 Deferred taxes, net7.0 10.0 Leasing commissions, net of accumulated amortization of $13.5 and $13.4 at December 31, 2024 and 2023, respectively7.9 9.0 Right of use asset, net10.1 8.9 Furniture and equipment net of accumulated depreciation of $21.7 and $30.8 at December 31, 2024 and 2023, respectively5.3 7.0 Above-market leases, net of accumulated amortization of $38.5 and $42.4 at December 31, 2024 and 2023, respectively1.4 2.