Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 172

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 172
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2.1 United Kingdom— — 0.1 0.2 — — 1.2 0.9 1.3 1.1 Total$44.5 $74.4 $13.6 $4.0 $1.3 $2.8 $1.4 $5.4 $60.8 $86.6 Investing distributions resulted primarily from sale of a multifamily property in Western United States, conversions of VHH properties from development to operating, the redemption of an interest in a hedge fund investment and excess proceeds from the refinancing of mortgage loans on properties. Operating distributions resulted from operating cash flow generated by the joint venture investments that have been distributed to the Company.  Income from Unconsolidated InvestmentsThe following table presents income from unconsolidated investments recognized by Kennedy Wilson during the years ended December 31, 2024, 2023 and 2022:Year Ended December 31,(Dollars in millions)202420232022Income from unconsolidated investments - operating performance$29.9 $40.8 $80.2 Income from unconsolidated investments - realized gains from cost basis investments32.6 — 4.7 (Loss) income from unconsolidated investments - unrealized and realized fair value (losses) gains(6.3)(229.3)114.6 Principal co-investments56.2 (188.5)199.5 Loss from unconsolidated investments - carried interests Funds(38.8)(39.5)(18.4)Loss from unconsolidated investments - carried interests co-investments(10.9)(24.8)(2.7)Income (loss) from unconsolidated investments$6.5 $(252.8)$178.4 Operating performanceDuring the year ended December 31, 2024, the Company recognized an increase in rental and hotel revenue compared to the same period in 2023, primarily as a result of the recapitalization of certain previously consolidated multifamily properties that are now a part of our Co-Investment Portfolio and the opening of the Kona Village Resort in July 2023. This increase in rental and hotel revenue was offset by: (i) costs associated with the ongoing stabilization of the Kona Village Resort and development properties in Europe that are in the process of leasing up,