Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 187

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 187
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 cash to KW and a gain on sale of $65.4 million

◦Co-Investment Portfolio:

63

▪Acquired nine multifamily properties in the Mountain West and industrial properties in the Pacific Northwest and Southeast for $682.8 million. KW has a weighted-average 13.0% ownership interest in these acquisitions. Acquired five additional sites for our UK single family platform.

▪Completed recapitalization of a multifamily portfolio consisting of nine (9) properties, totaling 2,809 units, reducing the Company's ownership from 51% to 10% and generating  $138 million of cash to the Company. Additionally, the Company completed a recapitalization of a 687-unit Southern California multifamily community, reducing the Company's ownership from 51% to 10% through a new joint venture, generating $17 million of cash to the Company

▪Originated $2,564.5 million in new construction loans, completed $1,306.8 million in additional fundings on existing loans, and realized $956.7 million in repayments, the Company’s share of which were $64.1 million, $41.0 million and $47.6 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 hedge some of our exposure.  However we typically do not hedge future operations or cash flows and, therefore, changes in foreign currency rates will have an impact on our results of operations.  We have included the table below to illustrate the impact these fluctuations have had on our revenues, net income and Adjusted EBITDA by applying the relevant exchange rates for the prior period.  Please refer to the Currency Risk - Foreign Currencies section in Item 3 for a discussion of risks relating to foreign currency and our hedging strategy and the "Other Comprehensive Income" section below for a discussion of the balance sheet impact of foreign currency movements on our results of operations.  

Nine Months Ended September 30, 2025(dollars in millions)ConsolidatedCo-InvestmentTotalRevenues$4.6 1 %$0.6 — %$5.2 1 %Net (loss) income  (6.0)(9)%23.3 34 %17.3 25 %Segment Adjusted EBITDA(1.