Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 296

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 296
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Operational Highlights

    Same store property highlights for the three months ended June 30, 2025 include:

•For our 16,911 same property market rate multifamily units for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024:

◦occupancy increased 0.3% to  94.9%  

◦net operating income increased by 3.1% 

◦total revenues increased by 2.0% 

•For our 10,367 same property affordable rate multifamily units for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024:

◦occupancy was down 1.2% to 93.7%  

◦net operating income increased by 4.9%

◦total revenues increased by 6.2%

•For 3.3 million square feet of same property office real estate for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024:

◦occupancy decreased to 91.6% from 93.4% 

◦net operating income increased by (5.7)%

◦total revenues increased by 2.7% 

•Investment Transactions

◦Consolidated Portfolio:

•(i) Recapitalized and deconsolidated a 1,008 unit wholly-owned multifamily property which reduced the Company’s ownership interests in the asset to 10%; and (ii) sold non-core office assets in Ireland, Italy and the United Kingdom. These dispositions generated $123.1 million of cash to KW and a gain on sale of $52.4 million. 

◦Co-Investment Portfolio:

•Completed $490.8 million in gross real estate acquisitions, which, the Company holds an 11.5% ownership interest.

•Originated $1,237.1 million in new construction loans, completed $523.8 million in additional fundings on existing loans, and realized $321.3 million in repayments, the Company’s share of which were $30.9 million, $16.0 million and $16.1 million respectively

    Foreign Exchange - Results of Operations

    A significant portion of our investments are located outside of the United States and denominated in foreign currencies.  In order to reduce the impact of foreign currency exchange rates we