Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 224

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 224
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30% - 8.36%2026 - 2028I/O23.323.3Bridge LoansMultifamily+Industrial/DiversifiedS +5.85%2027 -2028I/O4.64.6Bridge LoansRetail, Office and Other/DiversifiedS + 3.25% -7.01%2025 -2027I/O13.113.1Total Bridge Loans$126.5 $126.5 Other LoansOther Loans greater than 3% of the carrying amount of total loansOther LoanRetail/Mountain West6.00%2027I/O$8.0 $8.0 Other Loans less than 3% of the carrying amount of total loansOther LoansDiversified/Southern CaliforniaS + 2.50%2027P,I0.4 0.4 Total Other Loans$8.4 $8.4 Total Loans$253.2 $248.3 CECL Reserve— (17.2)Total Loans, net$253.2 $231.1 (1)The Company's variable rate loans are based off Term SOFR and expressed as spread over the Term SOFR rate.  (2)Maturity date assumes all extension options are exercised, if applicable(3)I/O = interest only until final maturity unless otherwise noted.  P,I = amortizing loan with principal and interest payments(4)Represents the Company's share of loans in its debt business.

113

For the years ended December 31, 2024, 2023 and 2022, the loan portfolio activity was as follows:($ in millions)Amortized CostAllowance for Credit LossesCarrying ValueBalance at December 31, 2022$149.4 $— $149.4 Originations and fundings43.8 — 43.8 Construction loan portfolio acquisition115.6 — 115.6 Construction loan portfolio acquisition discount(9.2)— (9.2)Proceeds from sales and repayments(48.9)— (48.9)Accretion of loan discount and other amortization, net3.5 — 3.5 Provision for credit losses— (7.0)(7.0)Balance at December 31, 2023$254.2 $(7.0)$247.2 Originations and fundings47.